Bioinformatics

Genomic information company, WuXi NextCODE (WXNC) has announced that it has closed on $240 million in Series B financing, led by Sequoia.

We haven’t heard a great deal about this company within the technology industry, reports Tech Crunch. The company was founded in 2013, as a spinoff of deCODE genetics in Ireland. In 2015, WXNC was acquired by WuXi AppTec, the Chinese and US open access R&D platform. WuXi AppTec then merged the company with its Cambridge, Massachusetts-based sequencing laboratory to create WuXi NextCODE.

The cloud based database which the company inhabits is used by researchers around the world to visualise and analyse whole exomes. WXNC is set to have more than 2 million genomes in its information database by 2020, more than any other database in the world, according to the company. They are now planning to take the $240 million and put it towards building out the infrastructure needed to make its database the “gold standard” of genome sequence data.

Dr. Ge Li, WuXi NextCODE chairmain and WuXi AppTec founder, said, “Only a platform with millions of genomes can provide the network effect and knowledge base that enable everyone to derive greater benefit, continually attracting more users, more data, and delivering ever more powerful health insights to serve people and patients everywhere.”