Swiss health data company SOPHiA Genetics is working hard on global expansion while the worldwide need for data-driven medicine continues to grow. The SOPHiA platform enables researchers to improve outcomes for cancer and rare diseases. Using AI technology, SOPHiA helps healthcare workers gain access to collaborative data across many sources.
Recently, the company revealed it closed on an oversubscribed $110 million Series F round of funding. aMoon, an Israeli life sciences and healthtech venture group, led the round with Hitachi Ventures, an arm of Japanese Hitachi Group. Credit Suisse and Pictet Group also joined the round. Swisscom Ventures, Alychlo, Endeavour Vision, Generation Investment Management, and Eurazeo Growth joined the round as return investors, with additional help from newcomers ACE & Company and Famille C Invest.
The company plans on using the funding primarily as a way to dig deeper into U.S. and Asian markets. It also plans on expanding its platform’s multimodal capabilities and inserting itself into more healthcare institutions across the globe. Currently, it is used by over 1,000 institutions worldwide and has analyzed over 600,000 genomic profiles.
"Since inception, we knew that leveraging a wide range of data modalities powered by cutting-edge technologies was key to sustainably deliver better outcomes to the global healthcare community," Jurgi Camblong, CEO and Founder of SOPHiA Genetics said in a statement. "Now, with this new funding round, we can embark on the next stage of our development and take our collaborative approach further, delivering intelligent medicine, together."
The machine learning platform has helped research labs analyze genomic data and medical imaging data on a quick upward trajectory since its inception in 2011. Last year, it raised $77 million in its Series E round, putting its total raised equity up to $251 million. Didier Hirsch, Agilent’s former CFO, has joined SOPHiA Genetics’ Board of Directors, and will also serve as chair of the company’s Audit Committee.
With the most recent cash injection, SOPHiA hopes to continue to help researchers develop new targeted drug therapies and use biomarkers from the hundreds of thousands of genomic profiles it has on file to guide patients to potentially beneficial drug trials.