Supporting the Company’s Global Expansion to Meet Growing Clinical and Biopharma Demand for Data-Driven Medicine
- SOPHiA GENETICS enters next stage of its global expansion with oversubscribed Series F round exceeding $110 million, led by major health-tech fund and followed by strategic industry leader
- Company demonstrates solidity of its business model with banks joining in the round
- Didier Hirsch, former CFO at Agilent, joins the company’s Board of Directors and will chair its Audit Committee
Lausanne, SWITZERLAND, and Boston, US – October 1, 2020: SOPHiA GENETICS, global leader in Data-Driven Medicine, announced today the closing of a $110 million financing round to enter into the next stage of its expansion, with a focus on supporting the growing clinical and biopharma demand for Data-Driven Medicine worldwide.
This Series F round was led by aMoon, a leading health-tech & life sciences venture fund based in Israel, and Hitachi Ventures, a venture arm of Japanese Hitachi Group. The company also received the trust of prime financial institutions Credit Suisse and the Pictet group. Existing investors Swisscom Ventures, Endeavour Vision, Generation Investment Management, Alychlo, and Eurazeo Growth participated in the round, as well as newcomers ACE & Company and Famille C Invest.
Having established the world’s largest Data-Driven Medicine community network through its universal and collaborative AI platform, SOPHiA GENETICS supports healthcare professionals by translating multiple sources of complex medical data into valuable clinical insights. The SOPHiA Platform is used by over 1’000 healthcare institutions and has analyzed 600’000 genomic profiles; up to 17’000 new profiles a month. Through continual learning and network effects, experts worldwide are empowered to act with confidence for better patient management.
The new funding round will boost the company’s penetration in both the US and Asian markets. Proceeds will also be dedicated to increasing the platform multimodal capabilities and its adoption by healthcare institutions worldwide. Leveraging this momentum, SOPHiA GENETICS will be best positioned to power biopharma’s effort to optimize and accelerate the development of new targeted therapies.
As SOPHiA enters this new phase of rapid expansion, Didier Hirsch, former CFO at Agilent, joins the company’s Board of Directors. He will also chair the company’s Audit Committee, ushering SOPHiA GENETICS toward its next important milestones.
“The overall demand for Data-Driven Medicine is rapidly growing, and the next step is to successfully combine multiple sources of data to better address clinicians’ needs,” said Dr. Tomer Berkovitz, Partner & CFO of aMoon. “With this shift, more complex data will be generated, and we believe that SOPHIA’s decentralized model will play a pivotal role in empowering health organizations to offer better patient care”.
Keiji Kojima, Executive Vice President and General Manager of Hitachi’s Smart Life Business Division, added: “Over the years, SOPHiA GENETICS has emerged as a leader in Data-Driven Medicine and we look forward to supporting the company expand its footprint in the Japanese market and beyond.”
“SOPHiA has established an impressive track record of disrupting healthcare and enabling a decentralized approach. This new funding round will further strengthen SOPHiA’s already unique offering, performance, and life-changing impact on patients and targeted therapies,” said Troy Cox, Chairman of the Board of Directors of SOPHiA GENETICS.
“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”, concluded Jurgi Camblong, CEO and Founder at SOPHiA GENETICS. “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.”
Author / sources: Sophia Genetics / https://www.sophiagenetics.com/en_US/news/media-mix/details/news/sophia-genetics-raises-110-million-in-oversubscribed-new-funding-round.html