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Gene Network Sciences Announces Creation of Spin-off Entity Focused on Quantitative Finance and E-Commerce
Date:11/25/2008

ets, while remaining focused on their original drug development mission.

Fina Technologies has obtained from GNS an exclusive license to certain non-biological applications of REFS(TM), such as quantitative finance, e-commerce, insurance, and fraud detection. "Fina will use REFS(TM) to create quantitative trading algorithms and deliver business solutions for a new class of data intensive problems," said Josh Holden, CEO of Fina. "After spending 13 years trading on Wall Street, this is the first tool I've seen that automates the discovery of complex and evolving relationships from massive amounts of data, leading to more reliable and more profitable trading strategies."

Fina Technologies is supported in their efforts through an initial round of investment led by Reed Elsevier Ventures, the venture arm of the multibillion dollar Anglo-Dutch media conglomerate Reed Elsevier, owner of such assets as Lexis-Nexis, and by a Board of Directors steeped in finance and e-commerce. In addition to Colin Hill, Co-founder and President and CEO of GNS, the Board of Fina includes Bill Trenchard, founder of Jump Networks, a start-up company that developed the world's first online calendaring system, which was sold to Microsoft for $50 million in 1999, and who is a current Board member of LiveOps, another company he founded. Also on the Board of Fina are Kevin Brown, Partner at Reed Elsevier Ventures; and Robert Maroney, Investment Manager at Connecticut Investments, LLC.

About REFS(TM)

Reverse Engineering/Forward Simulation (REFS(TM)) is a technology that systematically turns multiple layers of data into an unprecedented view of complex systems as a "whole," without requiring previous knowledge of the structure of the system. REFS(TM) begins with raw data and rapidly performs billions upon billions of calculations using supercomputers to determine how the individual components in the system interact
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SOURCE Gene Network Sciences, Inc.
Copyright©2008 PR Newswire.
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