Genoox, the genomic analysis company making it easier for doctors, clinicians, and researchers to analyze and act on genetic sequencing data has raised $6 million in funding led by Inimiti Capital Partners and Glilot Capital Partners. With this investment, Genoox will also be expanding their genomic services into the U.S. healthcare market, providing medical facilities with innovative solutions to help solve real and pressing healthcare problems. Genoox has an international footprint, with a U.S. presence in Palo Alto and New York City.
Founded in 2014, Genoox is part of a new breed of emerging tech companies in the healthcare space focused on solving problems at the core of patient management. With the expansion into the U.S. market, Genoox will help medical facilities integrate clinical genetic sequencing data into their patient workflow by providing the most modern data mining and analysis technologies.
Genoox is unique in its ability to simplify data management and interpretation, driving broader adoption of genomic information in patient treatment decisions by accelerating the collection, analysis and application of genetic sequencing data worldwide. For clinicians, Genoox creates value by translating complex genetic data into specific, actionable insights that can be shared with the patient.
Clinical diagnostics in the U.S. represents about 2% of healthcare spend; yet drives nearly 70% of clinical treatment decisions. Genoox is tackling issues at the core of healthcare by combining a deep understanding of science with vigorous data analytics to lower costs and improve patient outcomes.
“Genoox offers more accurate disease detection at a lower cost, making NGS more useful and available to all,” said Arik Kleinstein, co-founder and managing partner of Glilot Capital Partners. “Currently, clinical NGS is limited to academic centers and expensive specialty labs. The Genoox model will help to make cutting-edge genetic science available to community medical centers and underserved global markets. We believe that this is a game changer.”
“With clinical sequencing still in its early days, we believe Genoox is positioned to become the clinical ‘operating system’ for NGS samples,” said Alon Geva, general partner at Inimiti Capital Partners. “The ability of the Genoox platform to translate complex data into clinical answers in a rapid, cost effective way will help to make NGS available to the everyday patient.”
Genoox works with a variety of leading medical centers and pharmaceutical companies, providing faster and more accurate genomic testing results. In 2017, Genoox was chosen as a partner of the Israeli government, tapped to analyze the genetic sequencing of more than 100,000 citizens.