TriStar Technology Ventures has made an undisclosed investment in GenomOncology. In addition to the funding, John Doulis, CIO of TriStar’s partner fund, MedCare Investment Funds, has been named to GenomOncology’s board of directors. Based in Westlake, Ohio, GenomOncology translates next generation sequencing data for clinicians and researchers.
WESTLAKE, Ohio, Feb. 5, 2014 /PRNewswire/ — GenomOncology, provider of technology and services for the rapid and interactive analysis and interpretation of Next Generation Sequencing (NGS) data, today announced the investment from TriStar Technology Ventures, a healthcare innovation venture firm, as well as the appointment of John Doulis, CIO of TriStar’s partner fund, MedCare Investment Funds, to the company’s Board Of Directors.
As Chief Information Officer of MedCare, Dr. Doulis brings 20 years of experience as a physician, executive, scientist, and architect and manager of healthcare information systems. Prior to MedCare, Dr. Doulis was Assistant Vice Chancellor and Chief Operations Officer of the Informatics Center at Vanderbilt University, leading the Informatics Center’s efforts to provide the most effective information technology infrastructure possible to the diverse operating units within VUMC.
John Doulis joins current GenomOncology Board members Manuel J. Glynias, President and CEO of GenomOncology, Bradley Wertz, former President and COO of Rosetta, and Lee Zapis, principal of Zapis Capital Group.
“We are very pleased to welcome Dr. Doulis to our Board of Directors,” said Manuel Glynias, President and CEO of GenomOncology. “His strong healthcare and informatics experience will complement the expertise of our other Board members, ensuring that GenomOncology will be prepared to fully leverage the opportunities presented by this very dynamic market.”
“As the use of NGS data transitions from the research lab to the bedside, GenomOncology’s innovative technology and business model position the company to accelerate this transformation,” said Dr. Doulis. “I look forward to helping GenomOncology achieve its full potential.”
Brian Laden, Partner and Vice President at TriStar Technology Ventures, will join Dr. Doulis in working closely with the company. “GenomOncology has created a best-in-class product offering that allows pathologists to leverage the power of NGS without having to outsource the work to a third party or build an internal bioinformatics team. With their outstanding management team, they have positioned the company to capitalize on the rapidly expanding market for DNA-based molecular diagnostics.”
In collaboration with researchers and physicians, GenomOncology has developed two proprietary software platforms that streamline the use of NGS in medicine and research: GO Clinical Workbench™ for the clinical laboratory and GenomAnalytics™ for research applications. Software implementation occurs inside the client’s firewall, alleviating HIPAA concerns. For the clinical laboratory, the platform is configured to each client’s specific needs with clinical systems (LIMS, EMR, etc.) integration, setting of quality control and annotation parameters, and design of the resultant clinical report. For researchers, the platform is updated on a monthly basis, adding new features and functions based on individualized research interests and use. In both environments, GenomOncology provides onsite experts in bioinformatics and genomics to leverage the platform to support each client’s current and future needs.
About TriStar Technology Ventures
TriStar Technology Ventures is an early stage venture firm that focuses on forming and investing in companies in the area broadly defined as healthcare innovation: life sciences, medical technologies, healthcare IT and healthcare services. TriStar’s mission is to identify, create and grow early stage, transformative healthcare companies, primarily focusing on emerging technologies from universities and research institutions in the Southeast and beyond. For more information, visit www.tstventures.com.
GenomOncology is enabling precision medicine by translating next generation sequencing data into actionable information for clinicians and researchers. In collaboration with molecular pathologists and physicians, GenomOncology has developed the GO Clinical Workbench™, a decision support tool with a step-by-step workflow that takes raw data from the sequencer and translates the specific molecular profile of each patient’s tumor genome into an actionable clinical report. GenomOncology’s research platform, GenomAnalytics™, allows scientists to analyze one or hundreds of genomes simultaneously to look for causal variants, reducing the time required to understand the genomic alterations that lead to new discoveries about the biology of cancer. More information can be found on the company’s website at www.genomoncology.com.