€36M Fundraising to Sequence the Genome of Ireland

27/10/2016 - 2 minutes

Genomics Medicine Ireland (GMI) has raised €36M ($40M) in series A to sequence the genome of the Irish and use the info for the development of new drugs and diagnostics.

Genomics Medicine Ireland (GMI) is committed to revolutionizing health care with whole-genome sequencing. The company just raised €36M ($40M) in Series A that will be used to kickstart its research and create 150 jobs at the company over the next three years.

GMI’s goal is to find relationships between DNA and the development, progression and treatment of genetic diseases in the Irish population. The info will be shared with academic and industry partners to help research and development of new drugs and diagnostics.

Genomics Medicine Ireland

This not the first time this approach has been used: GMI’s platform is based on deCode, a start-up aimed at sequencing the population of Iceland to identify disease-related mutations. Amgen acquired deCode in 2012, thanks to which a new R&D program was initiated after the discovery of a new target associated with heart attacks.

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