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The Berlin-based start-up Lucid Genomics, a spin-off from the Max Planck Institute for Molecular Genetics and the Institute of Medical Genetics and Human Genetics at the Charité - Universitätsmedizin Berlin, has raised €1.3 million in pre-seed funding in a funding round led by Caesar Ventures, with support from BIF Partners, another.vc and the MPF Accelerator. The funds will be used to further expand their AI-Digital HealthTech Platform, which extracts all genomic information to improve diagnostics and drug discovery.
Uirá Souto Melo (CEO) and Hossein Moeinzadeh (CTO), founders of Lucid Genomics, are building their business on cutting-edge research conducted by Prof. Dr. Martin Vingron, Director of the Max Planck Institute for Molecular Genetics (MPIMG), and Prof. Dr. med. Stefan Mundlos, Director of the Institute of Medical Genetics and Human Genetics at the Charité - Universitätsmedizin Berlin and group leader at the MPIMG. With the institutes' scientific expertise, they were able to create a B2B Software-as-a-Service platform that offers 100% DNA analysis solutions to the healthcare and pharmaceutical industries. Lucid Genomics were granted an exclusive license to commercialize the software by the Max Planck Society and Charité.
Whole genome sequencing is a very promising breakthrough in areas involving precision medicine, gene editing, and pharmacogenomics. However, existing analysis approaches only look at 2% of the genomic information, ignoring the "dark-genome", technically known as non-coding parts of the DNA. To analyze 100% of genome datasets at scale, Artificial Intelligence (AI) and Machine Learning (ML) algorithms capable of finding and decoding patterns in human DNA are needed.
Based on several years of experience with DNA sequencing technology, the team of Lucid Genomics developed machine learning methods that greatly improve genetic variant detection, outperform existing methods, and prioritize coding and non-coding variations. In addition, the researchers have leveraged their knowledge of the "dark-genome" to develop a framework for interpreting any genetic mutation, regardless of its location in the genome. Lucid Genomics is merging these features to create a single product for its customers. With successfully closing the funding round they have now achieved the next important step in the development of their solution.
“We would like to congratulate Lucid Genomics on this important milestone in the foundation of their company. This is a perfect example of how basic research results from the Max Planck Society can lead to truly innovative products in the market. As Max Planck Innovation, we are incredibly proud and grateful that we were able to support the team in the development of their start-up through our coaching, incubation program and by successfully licensing the software in a suitable form for commercialisation,” says Bram Wijlands, Managing Director of Max Planck Innovation. “Lucid Genomics is also the first start-up that took part in the MAX!mize incubation program to raise venture capital. We are confident that this entrepreneurial team is going to create a big impact by bringing extraordinary research into the market for better patient care and accelerated drug developments.”
Lucid Genomics will use the funding to expand its Digital HealthTech Platform and improve genetic mutation identification through the complete analysis of the genome, increasing the outcomes they have achieved thus far. The initial stage in approaching the market will be rare genetic diseases, followed by cancer diagnostics and other related sectors.
“Our expertise lies in the combination of three things – new DNA sequencing technologies, advances in AI in the field of genomics and the knowledge about the dark genome. This combination is the reason we were able to build Lucid Genomics”, says the team.
About Lucid Genomics:
The start-up, a spin-off from the Max Planck Institute for Molecular Genetics and the Charité - Universitätsmedizin Berlin, is mining previously undiscovered parts of human DNA to revolutionize healthcare through AI-powered solutions that translate 100% of genetic information into valuable insights for better patient care and accelerated drug discovery. The main challenges are the detection, prioritization, and interpretation of genetic variations in 100% of DNA datasets. To address these problems, Lucid Genomics developed a tool portfolio which covers these challenges and provides genotype results shown in a software interface.
About the Max Planck Institute for Molecular Genetics:
Research at the Max Planck Institute for Molecular Genetics (MPIMG) focuses on the analysis of genome function and regulation, especially during embryonic development, differentiation, organ development, and disease. Scientists at the MPIMG study genes and genomes using automated methods, high-throughput technologies and various model systems, followed by computational analysis and interpretation of the results. The combination of experimental and computational methods is a characteristic feature of the work at the Institute.
About Max Planck Innovation:
Max Planck Innovation is responsible for the technology transfer of the Max Planck Society and, as such, the link between industry and basic research. With our interdisciplinary team we advise and support scientists of the Max Planck Institutes in evaluating their inventions, filing patents and founding companies. We offer industry a unique access to the innovations of the Max Planck Institutes. Thus, we perform an important task: the transfer of basic research results into products, which contribute to the economic and social progress.
About MAX!mize:
MAX!mize is the official start-up incubation program for Max Planck scientists from Max Planck Innovation. The two-phase program supports scientists in turning their research results into a valuable business model. By participating in the program, Lucid Genomics was supported in its early development phase with workshops, individual coaching, networking events as well as through non-dilutive funding. The company was the first of all start-ups in the MAX!mize program to raise venture capital.
http://www.lucid-genomics.com
http://www.molgen.mpg.de/2168/en
http://www.max-planck-innovation.de
http://www.maximize-incubator.com
The team (l to r): Hossein Moeinzadeh (Co-Founder CTO), Uirá Souto Melo (Co-Founder CEO), Tessa Remm ...
K.I.E.Z./Daniel Rodriguez
K.I.E.Z./Daniel Rodriguez
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