St. Sulpice (VD), Switzerland, 13 September 2017: SOPHiA GENETICS, the global leader in Data-Driven Medicine that has created SOPHiA Artificial Intelligence, today announced the close of a $30 million Series D funding round. The round was led by London-based Balderton Capital joined by 360o Capital Partners alongside existing investors British tech star Mike Lynch’s Invoke Capital and Alychlo, the investment firm of Belgian pharmaceutical entrepreneur Marc Coucke.
The company’s universal technology, SOPHiA AI, accurately analyzes and detects all types of genomic variants to help clinicians better diagnose and treat their patients. Its innovative technology and global approach were recently recognized by the MIT Technology Review’s “50 Smartest Companies” who ranked SOPHiA GENETICS thirtieth. SOPHiA is being used daily by 334 hospitals across 53 countries, and has tested over 125,000 patients to date.
This new round of funding enables SOPHiA GENETICS to continue its journey of democratizing Data-Driven Medicine worldwide. The company will use these resources to further develop its cutting-edge technology. Additionally, the company will continue recruiting top talent and accelerate hospitals’ adoption of clinical genomics testing, no matter if they are equipped (with a Next-Generation DNA Sequencing lab) or not. The company’s dedicated team who develops SOPHiA is driven to support clinicians by providing them with the best diagnosis technologies and helping them to find treatment options that save lives.
“Since inception, our vision has been to develop innovative technological solutions to help patients, equally wherever they live. SOPHiA acts as a real disruptor by breaking down the information silos in healthcare, meaning that the information from a patient in London or Paris can for instance help better diagnose and treat a patient in Lagos or Rio.”
– Dr. Jurgi Camblong, CEO and Co-Founder of SOPHiA GENETICS
This is only the beginning. With more and more hospitals adopting SOPHiA AI the company has created the largest clinical genomics community which enables the hundreds of institutions in the network to safely and anonymously share their findings and knowledge while ensuring patient data privacy.
“While recent technology disruptions have made DNA sequencing more affordable and available to the masses, issuing a clinically-proofed diagnostic based on a large set of genomic data remained time consuming and largely incomplete for healthcare professionals. Clinicians using SOPHiA GENETICS’ artificial intelligence now have a best- in-class technology to unlock the full knowledge hidden behind DNA samples, and to set the right diagnostic for the right condition, in particular for oncology and hereditary disorders. The clinicians we met were unanimous about the incredible value brought by SOPHiA as part of their daily routine. We have been very impressed by the accomplishments of the team to date, and we are very excited to be working alongside the founders towards establishing SOPHiA GENETICS as the global leader in Data-Driven Medicine (DDM).”
– Nicolas Autret, Partner at 360 Capital Partners
In the near future, each medical interaction will start with a genomic test corroborated with other patients’ health records. This “Real Time Epidemiology” is paving the way for the new era of efficient personalized medicine and SOPHiA is at the forefront of facilitating this deployment.
“SOPHiA GENETICS is a company at the forefront of two rapidly changing technologies: genomic medicine and artificial intelligence. By giving every healthcare professional a standardized, straightforward and fast way to analyze these complex data sets is an essential step to unlock the potential of Data-Driven Medicine. As diagnostic kits and sequencers become cheaper and more powerful, we believe that there is an opportunity to build the defining software layer on top of these technologies in genomics, just as Windows did for PCs and Android has for smartphones, and SOPHiA GENETICS is already leading in this field.”
– James Wise, Partner at Balderton Capital