Nest Genomics Closes $8.5 Million Seed Financing to Bring Genomics into Mainstream Patient Care
NEW YORK--(BUSINESS WIRE)--Jan 10, 2023--
Nest Genomics, a health technology company, announced the closing of an $8.5 million Seed financing round led by B Capital and supported by Y Combinator, Casdin Capital, DCVC, Samsung Next, Maven Ventures, iAngels, Arkin Digital Health, LionBird, Anne Wojcicki, Deneen Vojta and others.
Nest is an end-to-end solution designed to help health systems, clinics, pharmaceutical companies, and payors launch and scale longitudinal genomic programs. The Electronic Medical Records (EMR)-integrated platform allows for the seamless incorporation of genomics into clinical practice within existing workflows, including clinical decision support to help providers create patient care plans based on the latest clinical guidelines and patient information. The solution also includes patient engagement tools that empower patients to understand and manage their genetic information over time.
The founders of Nest, Moran Snir and Guy Snir, have built several companies focused on increasing access to genetic information over the last decade. Their previous company, Clear Genetics (acquired by Invitae (NVTA) in 2019), developed the Gia (Genetic Information Assistant) chatbot that became a model for scaling genetic counseling and triaging patients for genetic testing at the point of care.
“Over the next decade, population genetic screening will be one of the most impactful public health interventions. To realize this potential, we must address the major challenges of incorporating genetic information into provider workflows and patient care,” said Moran Snir, Nest Genomics Co-Founder and CEO. “Nest Genomics is making it easy for health systems to launch and scale precision medicine while engaging patients across the continuum of care, helping them adhere to the latest clinical management guidelines, which include screenings, procedures, and medication.”
Nest has launched in several large health systems across the country. So far, the platform supports hereditary cancers, cardiovascular genetics, and conditions included in the American College of Medical Genetics and Genomics’ secondary findings list. Funds raised will support Nest in launching its product with additional customers, integrating with more EMRs, and expanding to other clinical specialty areas, including Pediatrics, Polygenic Risk Scores, and Pharmacogenetics. Nest also plans to automate and integrate other parts of the genetic testing process.
“Nest Genomics is bridging the gap between genomics and clinical practice so patients benefit from the shift to personalized medicine,” said Karen Page, General Partner at B Capital. “Healthcare is in the early stages of the genomics transformation, and we are wholeheartedly enthusiastic about using patient specific data to more successfully treat disease. We are pleased to support the team as it revolutionizes the industry.”
About Nest Genomics
Nest Genomics is a software company dedicated to increasing access to genetic services. Organizations can launch and implement large-scale genomic programs with our lab-agnostic, turnkey solution. The platform provides a comprehensive solution from patient enrollment to follow-up across specialties from hereditary cancer and cardiovascular genetics to population sequencing and Multi Cancer Early Detection. Nest Genomics is headquartered in New York and has offices in San Francisco and Tel Aviv. For more information on Nest Genomics, please visit www.nestgenomics.com/.
About B Capital
B Capital is a multi-stage global investment firm that partners with extraordinary entrepreneurs to shape the future through technology. With $6.2 billion in assets under management across multiple funds, the firm focuses on seed to late-stage venture growth investments, primarily in the enterprise, financial technology and healthcare sectors. Founded in 2015, B Capital leverages an integrated team across eight locations in the US and Asia, as well as a strategic partnership with BCG, to provide the value-added support entrepreneurs need to scale fast and efficiently, expand into new markets and build exceptional companies. For more information, click here.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230110005275/en/
CONTACT: Nest Genomics Media
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY FINANCE CONSULTING GENETICS OTHER TECHNOLOGY HEALTH TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE HEALTH
SOURCE: Nest Genomics
Copyright Business Wire 2023.
PUB: 01/10/2023 08:30 AM/DISC: 01/10/2023 08:33 AM