- UPMC Enterprises led Series B funding in precision medicine initiatives for Oakland, CA-based genomics software firm Omicia, Healthcare IT News reported.
- The funding round, which closed June 8, raised $23 million, including from overseas investors in Europe and Asia.
- Omicia will use the money to speed product development of clinical genome analysis and reporting software, including variations of its flagship Opal Clinical platform for use in new verticals like population health management and clinical trial support.
“As an investor UPMC is excited to work with Omicia to begin to address today’s extraordinary opportunities in precision medicine,” Tal Heppenstall, president of UPMC Enterprises, said in a statement. “We envision a future in which we can routinely deliver actionable genomic insights about individual patients in real-time, within the workflow or our 3,500 physicians.”
Other new investors included Roche Venture Fund, Chinese insurance giant Ping An Ventures, LDV Partners and Russian venture capitalist Yuri Milner. Also participating in the funding round were existing investors ARTIS Ventures, Acadia Wood Partners and Buchanan Investments.
In addition to boosting product development, the financing will fuel growth in sales, sales support, marketing and operations, Omicia said.