US-based health informatics technology developer DNAnexus closed a $100m funding round yesterday backed by biotechnology firm Regeneron Pharmaceuticals and GV, an early-stage investment subsidiary of internet and technology conglomerate Alphabet.
Investment management firm Perceptive Advisors and venture capital firm Northpond Ventures co-led the round, which also featured Foresite Capital, TPG Capital and First Round Capital.
Founded in 2009, DNAnexus has created a software platform that enables researchers to store, analyse, manage and collaborate on large amounts of complex clinical data in a secure, cloud-based environment.
The platform currently holds 28,000 terabytes of data, and users run a total of 10 million hours of data processing per month. The funding will enable DNAnexus to further develop its data science capabilities.
The company has raised approximately $273m in funding to date. GV had previously contributed to a $68m round in February 2019 that included genomic information supplier WuXi NextCode.
The 2019 round was alos backed by Foresite Capital, TPG Biotech, Claremont Creek Ventures and Innovatus Capital Partners, with the latter additionally injecting an undisclosed amount of debt financing.
GV and WuXi NextCode also took part in a $58m round for DNAnexus in early 2018 that was led by Foresite and backed by software producer Microsoft, TPG Biotech, Claremont Creek Ventures and MidCap Financial.
WuXi NextCode first invested in the company in 2015, providing $15m that followed a round the same size the previous year involving GV, TPG Biotech, Claremont Creek and First Round.
DNAnexus had already raised $15m in 2011 from GV, TPG Biotech, Felicis Ventures, First Round, SoftTech VC and K9 Ventures.
