US-based gene therapy access platform Vineti secured $33.5m on Monday in a series B round featuring GE Ventures, the corporate venturing subsidiary of industrial product manufacturer General Electric (GE).
Venture capital firms Canaan Partners and DFJ co-led the round, which included VC fund Section 32, investment firm Casdin Capital, VC firm LifeForce Capital and unnamed additional investors.
Vineti has created cloud-based software that facilitates gene therapy development by integrating logistics, manufacturing and clinical data for personalised therapeutics and adding automation to streamline workflows.
The company was founded by GE and medical research firm Mayo Clinic, and both GE Ventures and Mayo Clinic Ventures chipped into a $13.8m series A round closed in June 2017 that also featured DFJ and LifeForce Capital.
The series B funding will go to further development of Vineti’s platform and an expansion drive in Europe and the Asia Pacific region. Nina Kjellson of Canaan Partners and Michael Pellini of Section 32 will join Vineti’s board of directors in conjunction with the round.
Amy DuRoss, Vineti’s co-founder and CEO, said: “We are in a crucial window to get production and delivery of personalised therapies right for a rapidly growing number of patients who are desperately in need.
“Vineti is humbled to be working with the leading scientific, clinical trial and commercial teams in personalised medicine. We are leveraging the best of Silicon Valley “critical path” enterprise software to ensure that the right therapy gets to the right patient at the right time, safely and cost-effectively.”