Founded by a former research engineer from regional TTO Satt AxLR, genetic analysis platform company SeqOne has become one of the first businesses to be backed by the PSL Innovation Fund.
France-based genetic analysis platform creator SeqOne today raised €3m ($3.7m) in a round involving PSL Innovation Fund, the deep tech-focused investment vehicle formed by Université PSL.
The deal was co-led by investment firm Irdi Soridec Gestion and venture firm Elaia Partners, which manages PSL Innovation Fund and also contributed to the round through its Elaia Delta Fund.
Government-owned investment bank Bpifrance, which is a limited partner in PSL Innovation Fund, also provided SeqOne with funding.
Founded in 2017, SeqOne has developed a cloud-based platform intended to provide genetic data analysis that is more accessible and cost-effective for clinicians and researchers to use.
SeqOne’s product, which could help treat cancer and hereditary diseases, relies on big data to catalogue genetic sequencing information before using artificial intelligence to pick out mutations most relevant to the patient’s condition.
The service also includes a number of specialised applications that can be used to easily run new kinds of genetic test.
SeqOne’s platform is currently being tested in more than half of France’s university hospitals in addition to three unnamed research labs in the private sector.
PSL Innovation Fund’s involvement will enable SeqOne to access seasoned research teams and new technologies as the company continues work on its platform.
The capital will help SeqOne push product development with a focus on oncology, while also facilitating the expansion of the company’s sales and marketing capacity.
SeqOne is helmed by chief executive Nicolas Philippe, previously a research engineer at regional tech transfer office Satt AxLR and a former postdoctoral research fellow at Hospital University of Montpellier, Inserm and the National Center for Scientific Research.
