Deep Genomics Closes Seed Round of $3.7m
By Bio-IT World Staff
November 18, 2015 | Deep Genomics this morning announced the closing of $3.7 million in seed financing. Funding was led by True Ventures of the Bay Area with participation from Bloomberg Beta and other global angel investors.
The startup launched this summer based on a deep learning-based technology developed in Brendan Frey’s lab at the University of Toronto. The team has published nearly 50 papers since 2003. Deep Genomics can sift through hundreds of millions of previously unknown genetic mutations and find ones that lead to disease, the company says.
In August, Frey told Bio-IT World that applying machine learning to genomics would take a strong foundation in machine learning and an equally deep understanding of genome and cell biology: “to understand how DNS wraps around nucleosomes like chromatin. Understanding how RNA secondary structures appear. Understanding how proteins bind to RNA, how proteins bind to DNA. Understanding all of the biological components and cellular processes that underlie cell biology.”
The company will use the seed funding to further grow its team of machine learning and genome biology experts and to further develop and validate its proprietary deep learning technology. With newly acquired talent, Deep Genomics can continue to advance its ability to determine the consequences of genomic alterations on various cell mechanisms and can get closer to applying this technology to diagnostics, personalized medicine and pharmaceuticals, the company said.
“Deep Genomics is a prime example of how machine learning will impact the healthcare space,” said Adam D’Augelli of True Ventures in a press release. “Deep Genomics’ solutions will provide an understanding of genetic mutations that science has never had before, opening the door for hyper-personalized treatments and major developments in pharmaceuticals.”
“With our unique technological approach, we are looking to create a shift in the current genomic medicine landscape,” Frey said in a press release announcing the funding. “With this funding, we will bring the best minds in machine learning and genome biology to the team, further develop our genetic interpretation engine, and test it experimentally. We are working with hospitals, biotech startup companies and pharma companies to test our system using the genetic data of patients that are stricken with genetic diseases.”
In August, Frey listed Human Longevity as a client and nameed SynapDx and the Toronto Center for Applied Genomics as “partners”.