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SOPHiA Genetics on Thursday said it raised $110 million in an oversubscribed Series F funding round. The company indicated that it will use the funds to enter into the next stage of its global expansion, focusing on support for the "growing clinical and biopharma demand" for data-driven medicine.
CEO Jurgi Camblong remarked that "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."
According to SOPHiA, its artificial intelligence platform gives researchers access to "new-generation health data" for cancer and rare diseases management. It is used by over 1000 healthcare institutions and has analysed 600,000 genomic profiles, with up to 17,000 new profiles a month. The company says it has established the "world's largest" data-driven medicine community network that "supports healthcare professionals by translating multiple sources of complex medical data into valuable clinical insights."
SOPHiA said the funding will boost its penetration in both the US and Asian markets, while increasing the platform's multimodal capabilities and its adoption by healthcare institutions globally in a bid to "optimise and accelerate the development of new targeted therapies."
Tomer Berkovitz, chief financial officer of aMoon, which co-led the funding round with Hitachi Ventures, said "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." He added that "with this shift, more complex data will be generated, and we believe that SOPHiA's decentralised model will play a pivotal role in empowering health organisations to offer better patient care."
Previous funding raised by SOPHiA includes $30 million in 2017 and $77 million last year. Meanwhile, Didier Hirsch, former chief financial officer at Agilent Technologies, has joined SOPHiA's board and will also chair its audit committee.
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