DNAnexus raised funding including from Microsoft and Google Ventures

Microsoft and Google Ventures (GV) investing in biotech startup DNAnexus which on Tuesday announced US$58 million fundraising. A cloud-based data analysis and management platform for DNA sequence data headquartered in Mountain View builds a network that enables companies to acquire large genomic and biomedical datasets.

DNAnexus announced Microsoft and Google have participated in the latest funding round led by Foresight Capital. Other participating investors include TPG Biotech, WuXi NextCODE, Claremont Creek Ventures, and MidCap Financial.

"The funding enables the further development and launch of our translation treatment solution, as well as expanding in the management of cloud-based genome data in clinical trials," says DNAnexus CEO Richard Daly.

Large companies have invested in biotech startups and more and more major technology vendors are moving into the fields of genomics, bioinformatics, precision medicine and hospitals to build a network and incorporate into the doctors' workflow.

Daly says as the volume of biomedical information increases, the DNAnexus platform will come to enhance collaboration, data sharing and machine learning that will spur the development of precision medicine. The investment supports the company's continued expansion in the clinical test market as well as the Translational Informatics Suite.

"The next wave of biomedical insights comes from cross-institutional collaboration that produces multi-omics data that is increasing rapidly," Daly said.

DNAnexus has launched the Mosaic Microbiome Platform to improve understanding of human microbiome and early access programs for Google Brain's Deep Variant technology. The Startup also announced a separate partnership with AstraZeneca's Center for Genomics Research and Rady Children's Institute for Genomic Medicine.