Genetic software upstart secures $250K

GenomOncology has jumped into the race to analyze genetic data for cancer specialists. With applications in pharma and research labs and oncology clinics, the company's "genomic-analysis-as-service" plan has attracted a $250,000 commitment from the nonprofit venture group JumpStart.

Send GenomOncology genetic or genomic data, and the company promises to furnish customers with detailed reports that identify variants such as gene mutations in less than a day. The service is intended for companies researching genetic data to develop products and for doctors trying to match a patient with drugs based on the patient's genetic information.

The Westlake, OH-based startup faces plenty of competition, with a number of outfits entering the market with technologies for slicing and dicing genomic data, particularly in cancer. Knome has a service-focused model with which it offers to interpret genomes and exomes for research and clinical customers. And recently N-of-One emerged with an informatics system that enables the company to help cancer docs select personalized treatments for their patients.

"GenomOncology has an opportunity to be a market leader by attacking the emerging genome analysis space with a service-oriented business model," JumpStart's Managing Venture Partner Jerry Frantz said in a statement.

The startup previously reeled in $1.25 million in funding, as reported by MedCity News last month.

- here's the release
- see MedCity News' report

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