Osage University Partners has invested in LunaPBC, the public benefit corporation responsible for operating the community-owned LunaDNA genetic and health data collection platform.
LunaPBC, a US-based public benefit company developing a community-owned platform for collecting personal genetic data, has closed a $4.6m round backed by spinout-focused investment firm Osage University Partners.
Arch Venture Partners, the VC firm originally spun out of University of Chicago, participated in the round, as did Illumina Ventures and F-Prime Capital, respective investment arms of genetics technology provider Illumina and financial services firm Fidelity.
Bain Capital Ventures, a VC affiliate of private equity firm Bain Capital, also provided funding to LunaPBC along with unnamed additional investors.
Founded in 2017, LunaPBC runs an online health and DNA analysis platform called LunaDNA that operates as a separate business to allow customers to earn shares for providing their personal data.
Clients export information files such as whole genome and exome DNA sets into LunaDNA through existing DNA analysis tools such as 23andMe or else provide information through the platform’s own health surveys, with all data subsequently encrypted for use in medical research.
In December 2018, US financial markets regulator Securities and Exchange Commission granted LunaDNA permission to sell equity for personal genomic and health data valued in dollars, allowing it to pursue a share offering aiming to raise $50m worth of such information in exchange for 714.3 million shares.
Proceeds from the $4.6m round will allow LunaPBC to advance collaborations with organisations including nonprofit genetic research advocate Genetic Alliance, which has agreed to integrate the LunaDNA service with its public engagement platform.
Cash will also go towards growing LunaPBC’s platform development and marketing teams.
Filings for LunaPBC show the LunaDNA division previously obtained $3m of equity funding from undisclosed investors in July 2018.
