Introduction
In a significant development, Nucleus Genomics, a genetic testing company focused on calculating a patient’s risk of certain diseases, has added $14 million to their initial seed funding round. This additional investment brings the total amount raised by the company to $17.5 million.
Led by Alexis Ohanian’s 776
The ‘seed plus’ funding round was led by Alexis Ohanian’s venture capital firm, 776. Notably, this investment marks a significant milestone for Nucleus Genomics, as it reflects the growing interest in genetic testing and its potential applications in healthcare. The additional funding will enable the company to expand its capabilities and further develop its platform.
Founders Fund and Other Investors Join In
Nucleus Genomics’ investors include prominent figures such as:
- Adrian Aoun, CEO at Forward Health
- Brent Saunders, former CEO at Allergan
- Matteo Franceschetti, CEO at Eight Sleep
These investors join the likes of Founders Fund, which previously participated in Nucleus Genomics’ initial seed funding round.
Background and Early Success
Initially, Nucleus Genomics announced a $3.5 million seed roundback in December 2021. Since then, the company has experienced significant growth and development. With its user-centric approach to genetic testing, Nucleus Genomics aims to empower individuals by providing them with accurate and actionable information about their health risks.
Addressing Biases in Genetic Testing
One of the primary concerns surrounding genetic testing is the potential for bias in polygenic risk scores. Research has shown that many genetic studies have an overrepresentation of participants from European descent, which can lead to biased results. To address this issue, Nucleus Genomics founder and CEO Kian Sadeghi emphasizes the importance of creating models that work for everyone, regardless of their demographic background.
Founder and CEO’s Vision
When asked about his vision for the company, Sadeghi shared:
"We really see a world beyond just the boundaries of the United States where people can engage and interact and take agency over their health."
This statement reflects Nucleus Genomics’ long-term goal of expanding its services to an international market.
User Control Over Data
One of the unique features of Nucleus Genomics is its emphasis on user control over data. When users sign up for the platform, they are asked how they would like their data to be shared, if at all. Additionally, users have the option to provide their data to research groups to advance medical knowledge.
Sadeghi stressed the importance of data ownership and control, stating:
"We are built in our DNA, so to speak, on maximal data ownership, and data control. You decide if your data is shared, and if so with who, when and how."
Future Developments
While Nucleus Genomics has made significant progress in recent months, the company still faces challenges as it prepares for mainstream launch. To address these concerns, Sadeghi emphasized the importance of expanding its services to an international market.
As the genetic testing landscape continues to evolve, Nucleus Genomics is well-positioned to play a leading role in shaping the future of healthcare. With its commitment to user-centricity and data control, the company is poised to make a lasting impact on the industry.
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