Precision medicine startup Variantyx lands $41.5M in funding to treat rare diseases using whole-genome sequencing

One in ten Americans suffers from a rare disease, according to the National Institutes of Health (NIH). The agency found that there are approximately 7,000 rare diseases affecting between 25 and 30 million Americans. That’s why Framingham, Mass-based Precision medicine startup Variantyx is on a mission to help people suffering from genetic disorders and reproductive health diseases.

DNA, which stands for deoxyribonucleic acid, is the genetic code that determines all the characteristics of a living thing. The genome of every organism, be it bacteria, virus, potato, human, is made up of DNA. Each organism has a unique DNA sequence that is composed of bases (A, T, C, and G). If you know the sequence of the bases in an organism, you have identified its unique DNA fingerprint or pattern. Determining the order of bases is called sequencing.

On the other hand, whole-genome sequencing (WGS) is a comprehensive method for analyzing entire genomes. Genomic information has been instrumental in identifying inherited disorders, characterizing the mutations that drive cancer progression, and tracking disease outbreaks. One of the companies in this space is Variantyx. The company is using WGS to diagnose rare inherited and neurological disorders. Variantyx provides comprehensive genetic testing using a single method approach that is based on whole-genome sequencing

We first wrote about Variantyx about a year ago after the biotech startup Variantyx raises $20M in funding for the whole-genome sequencing method to treat rare diseases. A lot has changed since then.

Today, Variantyx announced it has raised $41.5 million in a Series C-2 funding round led by New Era Capital Partners, with participation from Peregrine Ventures, Robert Bosch Venture Capital, 20/20 HealthCare Partners, and Pitango HealthTech.

Variantyx will use the funding proceeds to fuel its growth and launch newly developed solutions across all markets, with a focus on precision oncology. To date, Variantyx has raised a total of $80.5M in funding over 6 rounds. With its latest funding, Variantyx is poised to take advantage of the rapidly growing global precision oncology market with access to North America and Europe, the largest and fastest-growing regions respectively for oncology spending.

Founded in 2014 by Haim Neerman, Noam Shomron, Tomer Jackman, Variantyx offers a comprehensive set of advanced genomic diagnostic products and services with a focus on whole-genome sequencing. Its proprietary whole-genome analysis platforms developed by Variantyx allow clinicians and patients to better understand a person’s genetic makeup, leading to unmatched diagnostic capabilities and improved personalized treatment recommendations.

The Variantyx proprietary whole genome sequencing and analysis platforms allow healthcare providers and their patients to better understand a person’s genetic makeup, leading to unmatched diagnostic capabilities and improved personalized treatment recommendations. The company’s precision oncology solution will use multiple genomic technologies to analyze and identify the unique genetic alterations in a patient’s tumor to help predict their response to various therapies, optimize management, as well as provide prognostic and clinical trials information.

“The funding is a great testament of confidence and trust in the company,” said Haim Neerman, CEO of Variantyx. “It allows us to expand our diagnostic solutions to a wider array of customers so that medical care can become more personalized. The growth of Variantyx has been exponential, and we look forward to sharing the new disruptive products we have in the pipeline.”

This marks a continuation of the long-standing relationship between Variantyx and New Era Capital Partners. “Variantyx is changing the way precision medicine is done with the most advanced platform on the market, which can detect a range of genetic findings through whole-genome analysis. That makes a huge difference in the diagnostics and treatment market,” says Gideon Argov, Managing Partner at New Era Capital Partners. “We are excited to help take the company to the next level, making personalized medicine more widespread.”