Genetic Analysis Venture Raises $77 Million to Fund Growth toward IPO

As reported in Bloomberg, Sophia Genetics has raised $77 million from Al Gore’s Generation Investment Management which backs socially responsible companies. Sophia, a seven-year-old venture founded in Lausanne, Switzerland, with an office in Boston, uses machine learning to help physicians pinpoint mutations in genetic data and diagnose and treat cancer and hereditary conditions. Sophia is actively involved in the clinical trials space by leveraging three modules, including 1) Sophia Trial Match 2) Sophia Trial Detect and 3) Sophia CDx. It purports in marketing collateral to accelerate the development of new therapies enabling sponsors and investigators to “connect the right patients to the right trials, advance clinical-grade genomic testing and design robust applications.” Estimated Sophia revenues are $4 to $5 million with well over 100 employees. TrialSite News suspects they are presently operating at a loss; however, with this latest infusion from Al Gore’s fund they will be now able to expand their marketing, business development and sales to accelerate growth and head towards profitability.

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