DNAnexus raises $100M for a cloud-based analytics platform aimed at genomics and other clinical big data
DNAnexus, which provides a cloud platform for governments, universities, doctors and pharmaceutical companies to tap into DNA and other clinical data sets and collaborate on scientific research projects, is today announcing a big step ahead in its efforts to grow its reach and purpose. The 10-year-old startup, originally spun out of Stanford’s school of medicine, has raised $100 million in funding.
The funding is the biggest-ever round raised by DNAnexus, which prior to this had raised about $127 million with other investors, including Microsoft and Felicis, according to PitchBook data. It’s not disclosing a valuation, but we’re asking.
It’s also more than just about DNA, working with other large and often unstructured clinical data sets to help others in the field use the data more intelligently and with the correct privacy compliance in place (which is another kind of “intelligent” use of data), part of a bigger trend to develop medicines that are more attuned to individuals rather than one-size-fits-all solutions that often miss the mark, particularly in complex pathology, such as cancer care.
Electric truck start-up Nikola takes on car giants
Since listing on the Nasdaq last week, the US start-up Nikola has seen its share price more than double, sending its market value to $26.3bn (£20.5bn).
The gains came after the firm announced on Twitter when it would accept orders for its pick-up truck. The dramatic surge drew comparisons to more established rival Tesla. The firm, which has 250 employees, has said it has more than $10bn in pre-orders for commercial trucks and plans to start delivering trucks next year.
InsurTech Lemonade to Go Public
If successful, the New York-based company will list its shares on the New York Stock Exchange under the symbol “LMND,” the firm said in a U.S. Securities and Exchange Commission (SEC) regulatory filing.
“We rely on artificial intelligence and our digital platform to collect data points that we evaluate in pricing and underwriting our insurance policies, managing claims and customer support, and improving business processes,” Lemonade said in its filing.
The management team for the proposed offering includes some of the biggest names in financial services: Goldman Sachs & Co., Morgan Stanley & Co., Allen & Company, Barclays Capital Inc., JMP Securities, Oppenheimer & Co. Inc., William Blair & Company and LionTree Advisors.
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