Corporate Banner
Satellite Banner
Next Gen Sequencing
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Maverix Biomics Closes $6 Million Series A Round

Published: Tuesday, January 07, 2014
Last Updated: Tuesday, January 07, 2014
Bookmark and Share
Funds will be used to continue commercial momentum and rapidly expand usage of the Maverix Analytic Platform.

Maverix Biomics, Inc. announced that it has closed a $6 million Series A funding round. The company’s pioneering flagship offering, the Maverix Analytic Platform, simplifies complex big data analytics for life science researchers; integrating context-based data exploration, interactive visualization, secure data management, and affordable long-term storage in an easy-to-use cloud-based solution. 

The financing was led by one of Silicon Valley’s oldest and most prestigious venture capital firms, Asset Management Ventures, and two prominent Silicon Valley information technology investors, Andreas Bechtolsheim and Andrew Yang. Bechtolsheim was a co-founder of Sun Microsystems, Granite Systems, and Kealia, and is currently Chairman of the Board at Arista Networks. Perhaps most notably, Bechtolsheim was one of the original angel investors in Google in 1998. Yang was cofounder of Apache Design (now a division of ANSYS) and is currently an active entrepreneur and investor, with a portfolio including Anagram, CADMOS Design, and Mojave. 

At the close of the round, Louis G. Lange MD PhD, General Partner at Asset Management Ventures and Senior Advisor at Gilead Sciences, and Andrew Yang PhD, Vice President and General Manager of ANSYS, joined the Maverix board. The Series A funds will be used to continue commercial momentum and rapidly expand usage of the Maverix Analytic Platform, which has already gained market traction and is generating revenue from a number of influential researchers and scientists in pharmaceutical, molecular diagnostics, clinical, agricultural, and academic research settings. Maverix also recently announced a co-marketing alliance with Qiagen to streamline the interpretation of raw next-generation gene expression data into meaningful and actionable insights. 

“Maverix is a great example of a portfolio company where Asset Management can offer its expertise in both life sciences and information technology. We have been consistently impressed with the company's leadership, scientific, and software development expertise,” said Dr. Lange. “As high-throughput sequencing becomes a mainstream research and clinical technology, bioinformatics must move from the computer room directly into the hands of life scientists, creating a hundred-fold increase in potential customers that Maverix is uniquely poised to serve.” 

“I have been very impressed with the Maverix team and their ability to differentiate the Maverix Analytic Platform from other bioinformatics solutions,” said Dr. Yang. “The Maverix value proposition is appealing to scientists who lack computer programming skills and cannot or do not want to invest in the IT infrastructure necessary to process and understand the vast amounts of raw genomic data resulting from large sequencing projects. This market dynamic is analogous to my previous success in developing software solutions for the electronic design automation and semiconductor industries." 

“It’s both exciting and gratifying to have two pre-eminent investor groups from the life sciences and information technology arenas come together to back Maverix,” said Dave Mandelkern, Maverix co-founder and CEO. “We’ve already gained a significant amount of momentum, credibility and revenue in the marketplace and this round of funding is a huge endorsement of our vision as a leader in NGS gene expression analytics.” 

Researchers using the Maverix Analytic Platform experience a simple, collaborative user environment that allows them to upload their own data, initiate their own analyses, and put their results in context with other public and private data sources. Leveraging the power of proven, open source analytic tools that previously have been available only to bioinformatics experts, researchers are able to immediately perform analyses with reliable, scientifically recommended configurations, as validated and cited in peerreviewed journal publications. Visualization is provided through a variety of integrated graphical tools, including the UCSC Genome Browser, the world’s most widely used genome browser. 

“UC Santa Cruz has been one of the leading centers for genomics research for over a decade. Maverix has really benefited from the talents of UCSC graduates, as they continue a tradition of creating tools and resources used around the world,” said Todd Lowe, Ph.D., Professor of Biomolecular Engineering at UC Santa Cruz, and co-founder of Maverix. “The company is building on this know-how to directly address the needs of a much broader audience of scientists new to NGS analytics, as well as those who want to scale up their analytics by orders of magnitude.”


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,400+ scientific posters on ePosters
  • More than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

EDGC and Diagnomics Sign as Initial Customer For Maverix Dx Platform
Labs will launch various NGS-based clinical diagnostic products and services on clinically validated cloud-based analysis and reporting systems.
Wednesday, July 08, 2015
Scientific News
DNA Damage Seen in Patients Undergoing CT Scanning
Along with the burgeoning use of advanced medical imaging tests over the past decade have come rising public health concerns about possible links between low-dose radiation and cancer.
Web App Helps Researchers Explore Cancer Genetics
Brown University computer scientists have developed a new interactive tool to help researchers and clinicians explore the genetic underpinnings of cancer.
New Research Advances Genetic Studies in Wildlife Conservation
‘Next-gen’ DNA sequencing of non-invasively collected hair expands field of conservation genetics.
Gene Testing Now Allows Precision Medicine for Thoracic Aneurysms
Researchers at the Aortic Institute at Yale have tested the genomes of more than 100 patients with thoracic aortic aneurysms, a potentially lethal condition, and provided genetically personalized care.
OGT’s Popular ESHG Workshop Free to View Online
Learn about the next generation of microarrays in one of the best attended workshops of the conference.
Discordant NIPT Test Results May Reflect Presence of Maternal Cancer
Results published in Journal of the American Medical Association.
Sperm RNA Test May Improve Evaluation of Male Infertility
To help resolve uncertainty—and guide prospective parents to the right fertility treatments—scientists propose the use of a new kind of fertility test. It involves examining sperm RNA by means of next-generation sequencing.
How the Mammoth Got its Wool
Evolutionary change in a gene reconstructed in the lab from the woolly mammoth was part of a suite of adaptations that allowed the mammoth to survive in harsh arctic environments, according to new research.
NuGEN Scientists Screen 400+ Genes for Fusion Events in Single Assay
Breakthrough proves efficacy of new sample preparation method that could accelerate cancer research and development of treatments and diagnostic tests.
More Accurate and Comprehensive Whole Genome Assembly
Scientists from the Icahn School of Medicine at Mount Sinai have developed a new approach to build nearly complete genomes by combining high-throughput DNA sequencing with genome mapping.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!