Iqvia has led a $15m series C round for MIT-founded genomic data analytics spinout BC Platforms as part of a strategic partnership agreement.
BC Platforms, a Switzerland-based genomic data management and analytics spinout of Massachusetts Institute of Technology, closed a $15m series C financing round today led by medical services outsourcing company Iqvia as part of a strategic collaboration.
The round was backed by Debiopharm Innovation Fund, a strategic investment vehicle of biopharmaceutical development group Debiopharm, and was filled out by Finnish government-owned investment firm Finnish Industry Investment (Tesi).
Founded in 1997, BC Platforms provides pharmaceutical developers with genomic data management and analytics services which underpin the progression of gene-driven precision medicines.
BC Platforms will exploit the funding to bring forward automated drug development services, building on existing industry partnerships with healthcare providers and biobanks.
Iqvia expects the partnership to bolster its genotypic-phenotypic database product, E360 Genomics, which allows scientists to undertake human biology and drug discovery research in a secure environment that respects patient privacy.
The company’s expansion plans include an ongoing advance into Asia, directed from its newly-launched presence in Singapore.
As part of their partnership, Iqvia and BC Platforms will work towards developing new genomic data-driven technology. Iqvia will also gain representation on BC Platforms’ board of directors.
Debiopharm Innovation Fund led a $10m series B round for BC Platforms in mid-2017 with participation from Tesi and other undisclosed existing investors.
Rob Kotchie, president for real-world solutions at Iqvia, said: “Drawing insights from integrated clinical-genomics data is a growing need of our life science and healthcare customers.
“Through the combination of BC Platforms technologies – which automates the workflow from genomic instruments to actionable insights – with Iqvia’s leading real-world technologies platform we can enable customers to conduct novel research and discover new insights to advance healthcare.”
