Abstract
Contract genomics company WuXi NextCODE has closed on a $75 million Series B financing from existing investors and partners, with plans to accelerate the growth of its global genomic data platform. Proceeds will be used to further strengthen the company’s position in informatics, expanding its capabilities in artificial intelligence and deep learning, and advancing the commercialization of its consumer solutions for the China market.
Wuxi NextCODE’s platform is designed to enable the correlation of genome and phenotype data at scale and speed, in population genomics projects, clinical diagnostics and applications, as well as scientific wellness.
“Through its comprehensive capabilities for digitizing, managing, and analyzing genome data, WuXi NextCODE is uniquely positioned to build the open access and capability platform that enables any organization or individual to benefit from genomic big data,” stated the company’s Chairman Ge Li, Ph.D., who is also founder and chairman of global contract research outsourcing provider WuXi AppTec.
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The company leverages artificial intelligence via its DeepCODE algorithms, designed to use DNA, RNA, microarray, and protein data to map pathways and identify signatures to classify disease. The algorithms are also designed to identify novel genomic variants to power improved healthcare through new diagnostic tests and detailed understanding of biological pathways.
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