Microsoft, Google back DNAnexus' Big Data work with $58M; Novartis, Temasek back $50M round for Pear’s med apps
→ Big Data is worth Big Money. DNAnexus has grabbed a $58 million financing round led by new investor Foresite Capital with help from Microsoft, GV (formerly Google Ventures), TPG Biotech, WuXi NextCODE, Claremont Creek Ventures, and MidCap Financial. The company touts a platform tech enabling clients to glean new insights from large genomic and biomedical datasets. “As the volume of biomedical information continues to increase, the DNAnexus Platform and upcoming product releases catalyze collaboration, data sharing and machine learning on which the development of precision medicine depends. Foresite Capital is pleased to lead this new financing round,” said Jim Tananbaum, founder and CEO of Foresite Capital.
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