IDbyDNA Raises $9 Million in Series A to Bring Precision Medicine to Infectious Diseases
IDbyDNA, a precision medicine company focused on metagenomic approaches for infectious disease identification, announced today that it has closed $9 million in Series A financing. ARTIS Ventures led the round, with additional investments from ARUP Laboratories and other private investors. The funds will be used to further develop its Taxonomer-based DNA search technologies and to launch metagenomics-based clinical tests for infectious diseases.
IDbyDNA is building technologies that dramatically improve the accuracy and speed of universal microorganism detection by Next Generation Sequencing (NGS). The company seeks to help scientists and doctors detect any organism, in any sample. This will help to remove barriers for the adoption of metagenomics in clinical settings, and lead to faster public health responses during infectious disease outbreaks. Since the launch of Taxonomer.com for metagenomics analysis in May 2016, the company already has registered users from more than 150 academic or government institutions and corporations.
“Infectious diseases are a leading cause of death. In the U.S., healthcare-associated infections alone affect some 20 percent of hospitalized patients. This results in about $30 billion in excess medical costs annually. The key to successful, cost-effective treatment of these infections is rapid and accurate detection, especially in cases where traditional tests have proven uninformative,” said Guochun Liao, PhD, co-founder and CEO of IDbyDNA. “At IDbyDNA we are creating new means for infectious disease detection. Our approach combines the latest genome science with cutting-edge computer search technologies.”
IDbyDNA was founded in November 2014 by four industry veterans with track records that include pioneering genome analysis methods first used by the Human Genome Project. Guochun Liao, PhD, CEO, was a consulting professor at Stanford University, former VP Bioinformatics at Centrillion, and former head of Computational Genomics at Roche Palo Alto. Robert Schlaberg, MD, Dr Med, MPH is a medical director at ARUP Laboratories and assistant professor of Pathology at the University of Utah. Mark Yandell, PhD, is professor of Human Genetics and Edna Benning Presidential Endowed Chair at University of Utah and co-director of the USTAR Center for Genetic Discovery. Martin Reese, PhD, is the founder, president and CSO of Omicia, and former founder and president of Neomorphic, one of the first Bioinformatics companies, which was sold to Affymetrix.
“We are in the midst of another revolution within Genomics, centered around the microorganisms living on, and in us, collectively known as our microbiome,” said Stuart Peterson, co-founder and senior partner at ARTIS Ventures, who led this funding round for IDbyDNA. “Although the human microbiome has long been known to influence human health and disease, with the advent of high-throughput sequencing we have only recently begun to understand and appreciate the depth of its involvement. Insights are coming together through the work of companies like IDbyDNA and analytic tools like their ultra-fast metagenomics search algorithm Taxonomer. We couldn’t be more optimistic about the opportunity to back this superb team. They are pioneers within this exciting, important and emerging field.”
*IDbyDNA is a company co-founded by Mark Yandell, PhD, a professor of Human Genetics with the USTAR Center for Genetic Discovery at the University of Utah< Back to All Articles