Thomson Reuters Invests in GenoSpace
By Clinical Informatics News Staff
August 12, 2014 | GenoSpace announced a strategic investment today by Thomson Reuters. GenoSpace plans to use the funds to accelerate expansion of its customer base in research, clinical development, laboratory medicine, and clinical care. The total investment was not disclosed.
The investment is Thomson Reuters’ first investment in the precision medicine informatics market, and the first round of institutional capital raised by GenoSpace.
GenoSpace and Thomson Reuters have worked closely together in the past. In August 2012, GenoSpace joined the Thomson Reuters life sciences partner ecosystem. Last summer, the two companies announced a partnership with PathGroup, the largest physician-owned pathology group and clinical lab in the U.S., to deliver context and supporting information to PathGroup’s clients (see, Gene Information Directly to Doctors).
Said CEO John Quackenbush in a press release: “We have had a very strong and productive relationship with Thomson Reuters since we launched the company. This investment represents not only their confidence in our team and our offerings, but also the vision both companies share for the future of information-driven precision medicine.”
The increased funding will be used in part to speed hiring, said Mick Correll, CTO of GenoSpace, specifically mentioning the work of software engineers. “Software architects and engineers at GenoSpace apply in-browser technologies like D3.js to advance usability and enable users to gain insight from rich genomic data,” he said. “Our team builds more effective knowledge models from complex biomedical data using technologies such as MongoDB, Neo4j and TitanDB.”
Quackenbush highlighted plans for expanded sales and a development program focused on customers’ needs.
GenoSpace currently offers a suite of offerings for securely storing vast amounts of genomic and health data, and providing it in formats specific to its diverse user communities. The company offers GenoSpace for Research, for Labs, and for Clinical, with each module managing security and providing visualization, collaboration, and analysis tools for its intended audience.
GenoSpace for Communities was launched in conjunction with the Multiple Myeloma Research Foundation late last year (see, Multiple Myeloma Research Foundation Launches Research Gateways Powered by GenoSpace).
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