GenoLogics Completes Additional Financing to Accelerate Translational Research Informatics Growth
News Feb 27, 2009
GenoLogics has announced it has completed $5 million in financing, which will be applied towards ongoing expansion plans.
The latest round of financing was led by OVP Venture Partners of Seattle with support from Growth Works and Yaletown Venture Partners of Vancouver. The funds will be used to accelerate development and global deployment of an end-to-end informatics solution for organizations pursuing translational research initiatives.
“We feel positive that the growth GenoLogics has experienced will continue as they expand their footprint in the life sciences software market,” said Chad Waite, Managing Director at OVP Venture Partners. “We’ve already seen GenoLogics make significant inroads by establishing collaborative partnerships with leading organizations that are looking for ways to achieve their translational research outcomes.”
Last year GenoLogics announced a new product suite for biorepositories and biomedical informatics to help customers better manage their clinical information. GenoLogics has developed this product suite in collaboration with the Fred Hutchinson Cancer Center, Windber Research Institute and the University of Texas Medical Branch. When the biomedical products are deployed in combination with the GenoLogics’ research informatics solutions, clients have a comprehensive bench-to-bedside informatics platform to enable their translational research initiatives.
“Over the past year we’ve invested in enhancing the capabilities our informatics platform to integrate data from both the clinical and research domains, providing our clients with an end-to-end translational research solution,” said Michael Ball, CEO for GenoLogics. “The additional funding will allow us to accelerate deployment of our biomedical informatics product suite, as well as expand our sales and support infrastructure to sustain the rapid increase we are seeing in customer adoption.”