Home Biomedical research DNAnexus secures $200 million in funding led by Blackstone Growth to advance its biomedical data-driven technology platform for precision medicine

DNAnexus secures $200 million in funding led by Blackstone Growth to advance its biomedical data-driven technology platform for precision medicine

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MOUNTAIN VIEW, Calif., March 8, 2022–(BUSINESS WIRE)–DNAnexus, Inc., a leading provider of cloud-based biomedical data analysis software serving the life sciences community, today announced a $200 million funding round to accelerate global adoption of its technology, translating the world’s complex multi-omics and clinical data into tangible insights and personalized treatments. The round was led by funds managed by Blackstone Growth (BXG), with participation from existing investors Northpond Ventures, GV, Perceptive Advisors, Innovatus Capital Partners and Foresite Capital.

Geneticists predict that by 2025, more than 500 million genomes will have been sequenced, generating 40 exabytes of data. Only a fraction of this data is currently used for drug discovery. Investment in genomics programs has increased rapidly in pharmaceutical and clinical diagnostic companies, driven by an increasing focus on new drugs and innovative diagnostic tests. DNAnexus provides the technology and products needed to support this rapidly growing ecosystem and generate critical insights from massive genomic, multi-omics and clinical datasets.

Today, DNAnexus has more than 12,000 platform users in 48 countries, and counts seven of the top 10 pharmaceutical companies and eight of the top 10 diagnostics companies among its customers. The platform now stores over 65 petabytes of data, a number that has grown 70% per year since 2015. The company has built and continues to support the UK Biobank’s Research Analytics Platform, giving accredited researchers access to the largest and most comprehensive biomedical database and tools in the world. DNAnexus has also partnered exclusively with the FDA to power precisionFDAa secure, cloud-based, high-performance platform for FDA researchers and reviewers, as well as private sector sponsors, to access data and tools in a collaborative environment, furthering standards according to which multi-omics data are included in FDA submissions.

“This funding allows us to accelerate our product roadmap to meet the global demand for technologies that harness the power of biomedical data and advance precision medicine,” said Richard Daly, CEO of DNAnexus. “Blackstone has demonstrated a deep commitment to the healthcare, life sciences and technology sectors with a global network and operational resources. Blackstone will be a strong partner as we grow our business and support the new wave of biomedical insights generated by our customers using large scale multi-omics clinical data.”

Ram Jagannath, Global Head of Healthcare at Blackstone, said: “We have seen a rapid proliferation of healthcare data in recent years, driven by the advent of new technologies and the increasing availability of tests. of diagnosis. The DNAnexus platform enables the life sciences industry to gain critical insights from multi-omics, clinical and phenotypic data to accelerate the development and delivery of new treatments, putting them in the hands of patients who need it faster and at lower cost. growth phase for the company as it continues to execute on its mission to improve human health. »

Blackstone Growth’s investment in DNAnexus follows the company’s recent investments in life sciences and pharmaceutical informatics, including Medable, Precision Medicine Group, Cryoport and Life Sciences Logistics. Additionally, in 2018, the company created Blackstone Life Sciences, a private investment platform capable of investing across the life cycle of companies and products in key life sciences sectors. The Blackstone Life Sciences team has deep investment and operating expertise in product development and commercialization, as well as strong relationships with leading pharmaceutical and medical technology companies, including AstraZeneca, Novartis and Pfizer.

Mike Kirkman, Head of Healthcare for Blackstone Growth, added, “Blackstone has consistently demonstrated its commitment to supporting category-defining companies at the intersection of healthcare and life sciences, and investing in DNAnexus represents an exciting continuation of this commitment. healthcare constituents, including pharmaceutical companies, diagnostics companies, and the FDA, are increasingly leveraging multi-omics and clinical data for more accurate disease detection and precision drug development, we believe that DNAnexus will continue to serve as the engine that helps fuel these important scientific developments and insights. We are excited to leverage our experience and Blackstone infrastructure to partner with the DNAnexus team to accelerate business growth and amplify impact.

DNAnexus will use the funding to advance its core genomics and multi-omics platform, continue its international growth, and support the integration of new AI and machine learning technologies and tools. The company aims to enable more customers to rapidly analyze complex genomic, transcriptomic, proteomic, metabolomic and clinical datasets on a single, secure and scalable platform to help reveal insights that can accelerate precision medicine. .

About Blackstone

Blackstone is the world’s largest alternative investment company. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest and the communities in which we work. We do this by using amazing people and flexible capital to help companies solve their problems. Our $881 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, low-quality opportunistic credit, real assets and secondary funds, all on a global scale. . Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Black stone.

About DNAnexus

To improve human health, researchers and clinicians need access to complex and sensitive biomedical data and innovative technologies that can enable new knowledge. However, this data is often incompatible or difficult to process. DNAnexus is the leading bioinformatics company that facilitates secure access and use of biomedical data while supporting collaboration between internal and external teams. Whether providing an end-to-end integrated diagnostic R&D and production bioinformatics platform that enables national biomedical biobanking initiatives to provide pharmaceutical companies with a multi-omics data science platform for discovery of new drug targets, DNAnexus enables the healthcare and life sciences industry to transform how they leverage biomedical data to accelerate scientific discovery and deliver better patient care. For more information on DNAnexus, please visit www.dnanexus.com or follow the company @DNAnexus.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220308005469/en/

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