GenoSpace completes financing deal with Thomson Reuters
Published on August 12, 2014 at 1:20 AM
GenoSpace, a precision medicine software company that has developed a comprehensive suite of tools to enable the broad use of genomic data in research and clinical care, today announced that it completed a financing deal with Thomson Reuters, the world leader in providing intelligent information for businesses and professionals. GenoSpace will use the funds to accelerate expansion of its customer base in research, clinical development, laboratory medicine and clinical care. The funding marks the first investment in the precision medicine informatics market by Thomson Reuters.
During the past decade, the cost of generating genomic sequence and other biomedical data has fallen precipitously, creating a rapidly growing demand for advanced systems to analyze and interpret those data. GenoSpace provides a single, unified software platform that addresses the data access, analysis, interpretation and reporting needs of a diverse group of users--including research scientists, pathologists, oncologists, clinical trial specialists, medical directors and patients. Built on a secure, scalable, flexible and robust technology stack, the GenoSpace system is designed to not only address today's challenges, but to anticipate and meet the challenges of tomorrow.
"We are pleased to welcome Thomson Reuters as a strategic investor," said John Quackenbush, CEO of GenoSpace. "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."
"Since inception, the company's success has rested on relationships with industry-leading customers in research and clinical care," Quackenbush added. "This financing enables GenoSpace to expand on our impressive team to meet the demands of a growing customer and user base."
Jon Brett-Harris, managing director at Thomson Reuters, expressed his enthusiasm for the expanded relationship. "GenoSpace established itself as the industry leader in innovative software systems for precision medicine. Our investment reflects our confidence in GenoSpace's strategy and our desire to build a stronger relationship as this market enters a phase of rapid expansion."