Nebula Genomics Raises $4.3M Seed Financing From Leading Tech and Biotech VCs
Nebula Genomics announced today that it has raised $4.3M million in seed financing with participation from 10 leading venture capital firms. The funds will support the company’s mission to usher in the era of personal genome sequencing by creating a trusted, secure, and decentralized marketplace for genomic data. The company also has forged a partnership with Veritas Genetics, the leading whole genome sequencing and interpretation company, that will connect the Nebula marketplace to Veritas’ Arvados open-source software platform.
This financing round includes many of the best-known venture firms investing in innovative entrepreneurs in genomics and blockchain. Investors include Khosla Ventures, Arch Venture Partners, Fenbushi Capital, Mayfield, F-Prime Capital Partners, Great Point Ventures, Windham Venture Partners, Hemi Ventures, Mirae Asset, Hikma Ventures and Heartbeat Labs.
“As a people-first firm and early-stage investor, we always begin with the entrepreneur as our first step,” said Tim Chang of Mayfield. “Kamal and Dennis have a unique vision of leveraging blockchain to enable consumer genetic sequencing at scale, and the involvement of genomics pioneer George Church makes this a dream team. When you combine that with Nebula’s unique business model and incentive design, we believe the company can grow into a leading pioneer of the genomics age.”
The coming genomic age holds immense promise for the development of personalized medicine, improving patient outcomes, and improving the quality of human life. To realize that potential, researchers need streamlined access to the individual genomes of millions or billions of people -- individuals who are reluctant to share their genomes today because of concerns over privacy, trust, control and cost. Nebula’s marketplace will address those concerns directly, using blockchain and other technologies to put consumers in control of their genomic data, as well as by compensating individuals directly for the use of their data. That will encourage an ever-growing number of consumers to participate in the marketplace and create an essential resource for advances in research.
“Our investors, along with Veritas, share our commitment to lowering access barriers to genomic data, and solving one of the primary roadblocks preventing personalized medicine becoming a reality today,” said Kamal Obbad, CEO & co-founder of Nebula Genomics. “With this funding we are moving closer to a new age in personalized medicine.”
“As genome sequencing inches towards mass adoption, security and privacy concerns remain core barriers,” said Robert Nelsen, managing director of Arch Venture Partners, whose past investments included Illumina and GRAIL. “Nebula’s team has architected a unique decentralized system that protects data while still making it easily accessible for researchers.”
The partnership with Veritas enables the Nebula marketplace to build upon the existing advantages of the open-source software platform Arvados. Developed by Veritas, Arvados is the most-widely used open-source platform for storing, sharing and analyzing genomic data – currently exceeding 20 petabytes of data. It is used globally by researchers, pharmaceutical companies and research institutions.
One of the unique features of the federated Arvados platform is that it allows consented data to be queried regardless the data’s location. Therefore, various data sets can be physically stored and managed according to local rules and regulations, especially those concerning privacy and protection. The Nebula marketplace will leverage this federation to enable individuals and institutions to exchange and trade access to the data with the benefits of blockchain-based privacy and smart contracts.
“Privacy and security issues are on everyone's mind and blockchain is a promising way to address both,” said Mirza Cifric, CEO of Veritas Genetics. “As our own database grows to many petabytes, together with the Nebula team we are taking the lead in our industry to protect the privacy of consumers while enabling them to participate in research and benefit from the blockchain-based marketplace Nebula is building.”
An innovative health data marketplace
Nebula’s talent and deep experience in adapting technologies for the blockchain, combined with Veritas’ genomic expertise and platform, will enable the creation of a large and trusted genomic and health data marketplace to accelerate genomic data growth and facilitate genomic data access. Data buyers will subsidize the cost of genome sequencing and interpretation, providing a strong incentive for consumers to participate.
Once their genome is sequenced, consumers will store and manage their own data via Arvados, an open source distributed biomedical data storage and computing platform widely used by researchers in industry and at academic institutions. Consumers will be able to choose how much and with whom their data is shared, with all the security and transparency advantages offered by blockchain.
In the Nebula marketplace consumers for the first time can receive compensation for their health data via a cryptocurrency token-based payment system created by Nebula Genomics. This directly addresses consumer concerns over the practice of medical and genomic data brokers to sell personal health data to third parties.
“Compared to centralized databases, Nebula’s decentralized and federated architecture will help address privacy concerns and incentivize data sharing. Our goal is to create a data flow that will accelerate medical research and catalyze a transformation of health care,” added Dennis Grishin, CSO & co-founder of Nebula Genomics.
About Nebula Genomics
Nebula Genomics is a human genome sequencing and health big data company on a mission to usher in the era of genomic sequencing by building a large and trusted genomic and health data marketplace for consumers, researchers and the medical community. Using blockchain to ensure that consumers maintain control of their data and are compensated for its use, the Nebula marketplace will aggregate a critical mass of rich genetic information that researchers can analyze in order to accelerate drug development, streamline clinical trials, and usher in the era of truly personalized medicine. The company was founded by Harvard genomics pioneer George Church, along with Harvard researchers Dennis Grishin and Kamal Obbad. Founded in 2017, Nebula Genomics has offices in San Francisco, CA and Boston, MA and is backed by investors including Khosla Ventures, Arch Venture Partners, Fenbushi Capital, Mayfield, F-Prime Capital Partners, Great Point Ventures, Windham Venture Partners, Hemi Ventures, Mirae Asset, Hikma Ventures and Heartbeat Labs. For more information, follow @NebulaGenomics on Twitter and Facebook or visit nebula.org.
About Veritas Genetics
Veritas is The Genome Company. We screen the majority of an individual’s DNA through whole genome sequencing and interpretation to provide insights on inherited disease risks, carrier status, drug sensitivities, traits and ancestry. Our mission is to help people understand their genetics and make more informed health and lifestyle decisions with the involvement of their physician and access to skilled genetic counselors. Co-founded in 2014 by George Church and leading scientists from the Personal Genome Project at Harvard Medical School, Veritas operates globally from its offices in the U.S., Europe and China. The company has been recognized twice by MIT Technology Review as one of the 50 Smartest Companies in 2016 and 2017, by Fast Company as one of the Most Innovative Companies in the World in 2018, and by CNBC as a 2018 Disruptor 50 Company. For more information, follow @VeritasGenetics on Facebook and Twitter or visit veritasgenetics.com. For more information on Arvados, visit arvados.org
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Successful 2018 Chinese Food Festival Celebrates International Culture and Development at United Nations14.11.2018 11:00 | Pressemelding
The 2018 Chinese Food Festival at the United Nations concluded successfully last Friday inside the Delegates Dining Room of New York’s United Nations Headquarters. Thousands of UN officials, socialites, celebrities and New Yorkers enjoyed performances, demonstrations and a distinguished dining experience with authentic food and exquisite wine from China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181114005297/en/ Ms. María Fernanda Espinosa, President of the 73rd UN General Assembly, joined Mr. Cao Kailong and others at the Chinese Food Festival inside the United Nations (Photo: Business Wire) The week-long food and wine festival opened with a cocktail reception, attended by 300 VIP guests. Actor, Juan Carlos Espinosa of Narcos, commented “This is an incredible experience, getting to experience the culture, food and wine of Ningxia. I am so impressed with the food and richness of the wine”. Other guests included Under-Se
Jam City and Disney Announce Multi-Year Mobile Games Development Partnership14.11.2018 11:00 | Pressemelding
Jam City, a leader in mobile entertainment, today announced a multi-year mobile games development partnership with Disney that includes Jam City taking over Disney’s popular mobile game, Disney Emoji Blitz. Members of Disney’s Glendale Games Studio will join Jam City and continue to operate and grow Disney Emoji Blitz as part of the Jam City team. Jam City will also have the right to develop new mobile games based on iconic characters and stories from Pixar and Walt Disney Animation Studios. The first game Jam City and Disney plan to develop is a mobile game based on Disney Animation’s Frozen sequel. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181114005011/en/ Jam City and Disney Announce Multi-Year Mobile Games Development Partnership (Graphic: Business Wire) “Jam City is proud to be teaming with Disney,” said Chris DeWolfe, co-founder and CEO of Jam City. “Disney is the world’s leader in beloved characters and brands th
Bearingpoint Acquires Inpuls, a Leading Data Specialist in Belgium14.11.2018 09:20 | Pressemelding
Management and technology consultancy BearingPoint has made a strategic move in the Belgian consulting market by acquiring Inpuls, a leading data specialist. The acquisition contributes to BearingPoint’s overall growth objectives, strengthens its presence in Belgium, and enhances its data capabilities. “The acquisition of Inpuls pays into two core elements of our corporate strategy: we enrich our portfolio focused on digitalization, regulation, and analytics; we concentrate on European clients, enabling them to become global leaders. Against this background this acquisition doubles our size in Belgium, and just as important, our clients now have Inpuls’s data expertise. We believe data is at the heart of digital transformation and creates value propositions and competitive advantages for our clients,” said Kiumars Hamidian, Managing Partner of BearingPoint. Founded in 2014, Inpuls is a Belgian consultancy specialized in data strategy, data governance, privacy, Big Data, and analytics.
GSMA Announces New Developments for MWC19 Barcelona14.11.2018 09:00 | Pressemelding
The GSMA today announced further details for MWC19 Barcelona (formerly Mobile World Congress), including additional keynote speakers, participating companies, programmes and events. Taking place 25-28 February 2019, with events being staged at Fira Gran Via, Fira Montjuïc and La Farga L’Hospitalet, MWC19 Barcelona is set to attract more than 107,000 professionals from over 200 countries and territories. “We have an amazing show lined up for February, with more than 2,400 companies participating across the exhibition, four days of conference programming and so many other events and activities taking place at MWC19,” said Michael O’Hara, Chief Marketing Officer, GSMA. “With in-depth examination of topics such as 5G, artificial intelligence, Internet of Things, content, security and many others, MWC Barcelona, now more than ever, is the “must-attend” industry event.” Execs from ARM, Huawei, KT and Orange Confirmed for Keynotes The GSMA announced several newly confirmed keynote speakers fo
Exclusive Group and Arcitura Education Team Up for Channel Partners to Profit from Cloud Skills Gap14.11.2018 08:00 | Pressemelding
Exclusive Group, the value-added services and technologies (VAST) group, today announced an agreement to become the only global provider of Arcitura Education’s renowned, vendor-neutral Cloud Certified Professional (CCP) accreditation programme. The move underlines the unique value of Exclusive Group’s ‘Cloud Competency Centre’ and will enable thousands more channel partners to develop the skills necessary to meet evolving customer challenges around cloud transformation and convert significant additional revenues. “Channel partners can’t afford to lose their market edge through a lack of cloud competency – they need new skills to complement their experience and technology knowledge so that customers carry on seeing them as relevant to their future,” said Andre Dieball, Global Director, Services at Exclusive Group. “70-80% of enterprises are experiencing cloud skills crises that risk crucial transformation projects going over time and over budget. These projects, collectively worth bill
Kenetic Bucks Crypto Market Trend with YTD 77% Returns in Investment Portfolio14.11.2018 07:37 | Pressemelding
Kenetic, a blockchain investment and advisory firm based in Hong Kong, has revealed that its proprietary investment portfolio has recorded year-to-date returns of 77 percent as of October 31, 2018, against a backdrop of major losses in the cryptocurrency market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181113006323/en/ After hitting its record high in December 2017, Bitcoin has fallen over 50 percent in 2018 and the overall crypto market is down around 65%. Kenetic’s proprietary investment portfolio is comprised of its best ideas that have undergone thorough due diligence by its experienced investment team. Its alpha-generating strategies are largely focused on early stage investments, catalyst driven events and macro themes, complemented by prudent risk management and proprietary in-house trading tools. “As active leaders in the global blockchain community, we see where the strongest investment opportunities lie and r