Precision Medicine Data Platform, Syapse, Closes $10M Series B Financing
Posted by | July 10, 2014
Managing ‘omics data—or the technologies used to explore the roles, relationships and actions of the various types of molecules that make up the cells of an organism such as genomics, proteomics or metabolomics—presents a challenge across the healthcare paradigm. In response, Syapse, Inc. developed a comprehensive Precision Medicine Data Platform that makes genomic, molecular, and clinical data actionable for physicians, their institutions and their collaborators.
Today, we announced that Safeguard Scientifics led a $10 million Series B financing round for Syapse, the creators of the Precision Medicine Data Platform. Existing investor, The Social+Capital Partnership, also participated in the round. This capital will allow Syapse to continue its reign as a leader in helping healthcare providers with administering medicine programs that are utilizing genomics and clinical data to support treatment decisions. The benefits of the new funds will also be used to expand sales, marketing and client services, and to accelerate product development.
Syapse software is being used to transform the care of complex diseases, such as cancer. In close collaboration with both academic and community healthcare providers, Syapse helps accelerate the deployment of precision medicine programs. One recently announced collaboration with Intermountain Healthcare, Intermountain Cancer Genomics, is a comprehensive service bringing tumor genome profiling, personalized treatment planning, drug procurement, longitudinal monitoring, and outcomes analysis to community oncologists at Intermountain and worldwide.
Syapse’s technology provides integral components for any firm participating in sequencing—offering advantages over molecular diagnostics tests that often target a single gene. While Syapse’s platform can be applied to any disease area, early customers have focused on oncology. Goldman Sachs estimates that the current annual addressable market for tumor tissue sequencing is $4-7 billion in the U.S. and will grow by another approximate $3-5 billion over the next several years.
Building on our experience in molecular diagnostics and healthcare IT, Syapse truly represents an overlapping space, that is medical diagnostic information technology. Healthcare is at the precipice of a complete transformation that places patients at the center of the healthcare ecosystem and elevates quality and outcomes over quantity and volume. In addition, there remains an ever-growing demand by physicians for cloud-based platforms that improves efficiencies, optimizes patient outcomes and ultimately drives down costs. Syapse is well positioned to be the interface between clinician, therapy, and patient data as sequencing continues to gain adoption. We’re excited to partner with this seasoned team who bring together a highly specialized blend of bioinformatics, IT, consumer genetics and clinical experience.
Check out a list of publications that covered the news earlier today:
- CrunchBase
- Dow Jones VentureWire
- FinSMEs
- GenomeWeb
- GigaOm
- MedCity News
- PEHub
- VentureBeat
- VC News Daily
- Xconomy
