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DNAnexus Completes $100 Million Financing

Supporting the company’s global biomedical data and informatics platform and expansion in clinical diagnostics, pharmaceuticals, and medical centers

MOUNTAIN VIEW, CA – June 9, 2020 | DNAnexus, Inc., the leading cloud-based SaaS company serving the global life science community, today announced the closing of a $100 million financing round. The financing was led by Perceptive Advisors and Northpond Ventures, joining existing investors GV, Foresite Capital, TPG Capital, and First Round Capital, and first time equity investor Regeneron Pharmaceuticals. These funds will advance the company’s growth globally, enabling DNAnexus to further serve leading healthcare and life science organizations. The DNAnexus Platform accelerates digital transformation by simplifying complex data analysis, clinical data management, and insights — at a scale not previously possible. DNAnexus customers use 10 million core processing hours a month and now store 28 petabytes of data, a number that has grown 70% per year in each of the last four years.

Over the last 10 years, DNAnexus has pioneered a cloud-based informatics platform founded on genomics, while responding to the rapidly growing customer need for integration of genomics with other complex datasets and the tools that make data valuable. DNAnexus customers include eight of the top 10 clinical diagnostics companies, seven of the top 10 pharmaceutical companies, and prominent national medical centers. This global network supports some of the largest human genome sequencing projects in the world, as well as FDA’s precisionFDA platform.

“DNAnexus has changed how global diagnostics and biomedical R&D markets manage their data and infrastructures,” commented Sam Chawla of Perceptive Advisors. “We are impressed with the velocity of DNAnexus’ growth, the breadth of its customers and partners, and the company’s dedication to innovation and technology. It couldn’t be clearer that the integration of clinical and genomic data is driving Precision Medicine, and DNAnexus is leading this space.”

As Precision Medicine gains momentum, pharmaceutical, clinical diagnostics, and medical centers understand the need for an enterprise-grade health informatics platform with the latest scaling, security, analytics, and knowledge management technologies. Through its global platform, DNAnexus provides the answer for companies to keep pace with the technical complexity demanded by population-scale.

“The Precision Medicine market is poised to exceed $119 billion by 2026. Many pharmaceutical companies and medical centers are adopting strategies rooted in human genetics because evidence shows that the odds of a drug’s clinical success doubles if associated with specific biomarkers,” said Michael Rubin, M.D., Ph.D, Founder and CEO of Northpond Ventures. “Providing the ecosystem with a tool to analyze and gain insights from all these massive datasets is a difficult undertaking. DNAnexus has a proven product that scales.”

“This financing drives advancement of our data science technologies benefiting our rapidly growing customer base,” said Richard Daly, Chief Executive Officer at DNAnexus. “The next wave of biomedical insights and treatments will be driven by large-scale clinical, multi-omics, and real world data resulting from cross-institutional collaborations. Our customers have continued to grow during the current COVID-19 epidemic using the virtual cloud workspace we provide. The trend toward cloud-based data analysis and collaboration is accelerating, and we are at the right place at the right time to future-proof and serve our customers.”

Author / source: DNAnexus / https://www.businesswire.com/news/home/20200609005217/en/

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