SAN DIEGO, July 17, 2014 /PRNewswire/ -- Edico Genome announced today that it has raised $10 million in a Series A financing to commercialize its DRAGEN™ Bio-IT Processor, the world's first next-generation sequencing bioinformatics application-specific integrated circuit (ASIC). The financing was led by Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures, and included Axon Ventures and Greg Lucier, who made his first investment following his role as chairman and chief executive officer of Life Technologies. Concurrent with the financing, Mr. Lucier was appointed to the Edico Genome board of directors. Advisory board members include Eric Topol, M.D., professor of genomics, The Scripps Research Institute, Charles Cantor, Ph.D., chief scientific officer, Sequenom, and Nils Homer, Ph.D., genomics informatics leader, Broad Institute. The financing will be used for commercialization of DRAGEN, which is expected to broadly launch at the American Society of Human Genetics annual meeting in October.
"Advancing and expanding the use of genomics in the clinic can only be achieved if researchers and physicians can quickly, efficiently and accurately process the immense amount of data generated from a human genome sequence," said Mr. Lucier. "Edico Genome's solution to speed data analysis and lower costs has the potential to have a large impact on many areas of medicine, particularly in oncology and non-invasive prenatal testing."
Jack Young, director, Qualcomm Ventures, added, "As sequencing volume increases, accelerated by the rapid decrease in cost exemplified by the arrival of the $1,000 genome, the opportunities for companies to enter the space and add
|SOURCE Edico Genome|
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