Health Data Startup SolveBio Secures $2M to Clean up & Index Genomic Data.
A new startup that helps format DNA reference data for hospitals and other organizations, New York-based SolveBio, has recently raised over $2 million in financial funding. This recent investment comes from Andreeseen Horowitz, Max Levchin, SV Angel, and other investors.
SolveBio was co-founded by CEO mark Kaganovich as well as two Montrealers who previously worked as early employees at 5by. Their names are, David Gross and David Caplan, with the fourth co-founder being Paul George.
Kaplan and Gross have both frequently collaborated on projects during the past ten years, although these appear to be a permanent set for Caplan.
SolveBio helps format DNA data sets into a single, clean and recognizable format so that hospitals, private institutions and other clinic’s can compare an individual DNA sequence. Up until recently, most places can complete a DNA sequencing for a person under $1,000. Unfortunately, messy and unstructured references data making it difficult for doctor and researchers to utilize.
Comparing a patient’s DNA from others with a similar matching DNA can help doctors find solutions and diagnoses much easier. Solvebio is currently developing a platform that can take a scrambled, scattered genomics data and sticking it into research applications, which can then become available as an API.
During and Interview with Betakit, Caplan has explained that the field of genomics and DNA sequencing is being utilized in hospitals ad clinics far more frequently than the previous years, when it was much more expensive.
“It’s really important that they have really easy, clean access to this reference data,” he told BetaKit. “It’s really crucial to help them understand someone’s gene sequence. In a sense the knowledge of biology that we know throughout the whole world is recorded in these data sets, and it’s scattered all over the place, it messy, its in different formats.”
SolveBio tackles the difficult work, cleans up the data and helps hospitals integrate the data into their applications.
“The more reference data, the more accurate the test,” the CEO Kaganovich told Techcrunch. “Right now there is a very limited amount of useful data out there. Whatever open data is out there, it is in inconsistent formats and quality, and not programmatically accessible. It takes a team of internal programmers to build the infrastructure to collect the data, parse it, normalize it, connect it, and serve it up to clinicians.”