Genomics Leader DNAnexus Secures $68M Series F Funding, Moves Closer to IPO

VCBeat learned from foreign media that on February 6, 2019, DNAnexus, a bioinformatics company headquartered in California, USA, announced the closing of its $68 million Series F financing round. Participants in this round included existing investors GV (formerly Google Ventures), Foresite Capital, TPG Biotech, WuXi NextCode, and Claremont Creek Ventures. Additionally, Innovatus Capital Partners provided debt and equity financing.

DNAnexus was founded in 2009 by Stanford University professors Serafim Batzoglou and Arend Sidow, along with computer scientist Andreas Sundquist. Its core business is providing a cloud-based data analysis and management platform for DNA sequencing, earning it the reputation as “the global leader in biomedical informatics and data management.”

In August 2009, DNAnexus secured $1.55 million in its Series A financing round, led by First Round Capital. Subsequently, in June 2011, it raised a critical $15 million in Series B financing, led by TPG Biotech. According to Crunchbase, following this round, DNAnexus had completed six rounds of financing, accumulating a total of $172 million.

DNAnexus stated that the new round of financing will be used to support the deployment of its recently launched DNAnexus Apollo platform, which is primarily designed for the exploration, analysis, and discovery in multi-omics and clinical data science, offering a scalable cloud environment, flexible data models, and intuitive analytical and visualization tools.

Image source: DNAnexus official website

DNAnexus Apollo enables the company’s drug research and development teams to rapidly test hypotheses in translational cheminformatics studies and gain deeper insights into mechanisms of action, biomarkers, and targets.

“This round of financing will help further advance our translational research solutions and expand our genomics footprint in cloud-based research, clinical diagnostics, and clinical trial solutions,” predicted Richard Daly, CEO of DNAnexus. He noted that the next wave of breakthroughs in biology is likely to emerge from cross-institutional collaborations, which will generate vast amounts of clinical and multi-omics data.

DNAnexus is a bioinformatics company founded in 2009 and headquartered in California, United States. The company provides an accessible global genomics network platform for sharing and managing genomic data and tools to accelerate the development of genomics. Following this round of financing, DNAnexus has completed six funding rounds, raising a cumulative total of $172 million.