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GenoSpace Announces the Launch of a Cloud-Based "Information Ecosystem" for Advancing 21st-Century Personalized Medicine
Date:7/11/2012

CAMBRIDGE, Mass., July 11, 2012 /PRNewswire/ -- GenoSpace, a Cambridge, Massachusetts-based informatics company, has launched a cloud computing platform to provide access to a variety of genomic and phenotypic data and designed to advance biomedical research and personalized medicine.

(Logo:  http://photos.prnewswire.com/prnh/20120711/NE38381LOGO )

Formed in 2011, GenoSpace leverages years of systems development experience and deep domain knowledge of founders John Quackenbush and Mick Correll, who, together at the Dana-Farber Cancer Institute, created software systems linking clinical and research data. Recognizing that the rapidly falling cost of genome sequencing would make existing systems obsolete, they developed a cloud-based data storage and "software-as-a-service" platform based on a robust, scalable, and secure data model. A key element of the GenoSpace system is its collection of intuitive, informative, data-access portals that can address the needs of a broad range of users.

"With the cost of genome sequencing falling to $1,000 and below, we quickly recognized that data generation had become a commodity," said John Quackenbush, GenoSpace CEO. "We wanted to solve the 'last 100 yards' problem and deliver data to individuals and organizations who need to access it in a form that is relevant to their needs. Everyone in medicine and biomedical research — from patients to pharmaceutical companies and everyone else in-between — can benefit from GenoSpace's unique service offerings."

Chairman of the GenoSpace Board of Directors, Joseph Boystak, added that "GenoSpace has tremendous commercial potential, including recurring revenue streams, by its offering clients and constituents high value-added products and services. This is the first company to create an information ecosystem that links together diverse users in ways that can benefit everyone involved. GenoSpace offers the solution for 21st-century genomic medicine."

As early stage clients, GenoSpace is working with disease foundations, pharmaceutical companies, and contract research organizations that recruit patients to clinical trials, and hospital systems and service providers that are seeking to connect with each other and looking to solve the problem of clinical and genomic data integration and management. For these and other clients, GenoSpace technology addresses their fundamental needs in ways that open up new opportunities.

GenoSpace's CTO, Mick Correll, underscored the distinctive value proposition represented in the company's offering, "Our cloud-based technology is secure, robust, and infinitely scalable, and the portals we've developed are aimed at solving problems people have today, while being adaptable to the needs of genomic medicine tomorrow. Even in our early days, this unique mix of attributes has positioned us well in the marketplace."

About GenoSpace (www.genospace.com)
GenoSpace, LLC, is a Cambridge, Massachusetts-based company that is pioneering a bold and innovative software platform for advancing 21st-century genomic medicine. Founded in 2011 on the principle that individuals should own and control access to their own genomic data, GenoSpace has built a robust software system for securely storing vast amounts of genomic data and making it available to individuals and groups who need to connect with each other and share data.

GenoSpace's "information ecosystem" consists of secure, reliable, user-friendly portals and computational tools that enable individuals, physicians, health-care systems, research scientists, contract research organizations, and pharmaceutical companies to access genomic and other data and to build relationships with other stakeholders in mutually beneficial ways that can accelerate disease research and drive personalized medicine.

The age of genomic medicine has arrived, brought about by a million-fold drop in the cost of DNA sequencing and a thousand-fold increase in the speed of gene-sequencing instruments. As the cost of sequencing a human genome falls below $1,000 and genomic sequence data becomes accessible to anyone, the challenge will lie in managing this valuable and highly personal asset. GenoSpace is poised to lead the coming information revolution as the leader and most trusted source for creating technologies that harness—and protect—the most powerful data on earth, our own. To learn more visit www.genospace.com


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SOURCE GenoSpace, LLC
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