US-based healthcare software provider Omicia closed a $23m series B round yesterday featuring Roche Venture Fund and Ping An Ventures, the respective investment subsidaries of pharmaceutical company Roche and insurance provider Ping An.
UPMC Enterprises, the investment and commercialisation arm of Pittsburgh University hospital UPMC, LDV Partners, Artis Ventures, Acadia Woods Partners and Buchanan Investments and one unnamed genomics investor also supplied funds.
Omicia provides next-generation sequencing platform, named Opal, to analyse, interpret and report on genomic data, such as the genetic basis of a disease and drug response, to speed up diagnosis and improve outcomes. The technology is currently being used by more than 500 academic and clinical institutions.
Omicia will now accelerate product development and increase its sales, support, marketing and operations efforts. The company also plans on entering new markets and push into additional verticals such as life science research, clinical trial support, population health management and consumer applications.
In 2014 Artis led a $6.8m series A round with participation from Acadia, Bay City Capital, Buchanan and Casdin Capital.
Tal Heppenstall, president of UPMC Enterprises, said: “As an investor, UPMC is excited to work with Omicia to begin to address today’s extraordinary opportunities in precision medicine.
“We envision a future in which we can routinely deliver actionable genomic insights about individual patients in real-time, within the workflow of our 3,500 physicians.”
Jiang Zhang, managing director of Ping An Ventures, said: “We are very proud to work with Omicia and its team to bring novel technology offerings to markets which are driven by active health management initiatives.
“Omicia’s software is designed perfectly to address important population health management opportunities in Asia.”