Healthcare Industry News: genomic test
News Release - August 7, 2013
Gene by Gene Acquires Arpeggi, a StartUp Health- and GE-Backed Company, to Build World's Leading Genetic Testing and Genome Diagnostics CompanyMerger will make DNA testing more accessible and affordable for consumers, researchers and healthcare providers
HOUSTON, Aug. 7, 2013 -- (Healthcare Sales & Marketing Network) -- Gene by Gene, Ltd., the world's first company to develop consumer DNA testing products for ancestry and genealogy applications, announced today the acquisition of Arpeggi, Inc., a StartUp Health- and GE-backed company that develops solutions for genome sequencing, data management and computational analysis.
The combined company will enable the acceleration of an innovative suite of more affordable genetics testing and diagnostics services available to consumers, researchers and healthcare providers.
"The acquisition of Arpeggi's technology and world-class team of data and technology experts will enable us to accelerate Gene by Gene's plan to make next-generation DNA sequencing and clinical genomics accessible and affordable to all," said Max Blankfeld, Managing Partner of Gene by Gene. "We are on a mission to transform healthcare by dramatically speeding up the process, and reducing the costs, of genetic tests, which today are often far too expensive for the average consumer."
Founded in 2012, Arpeggi develops solutions for genome sequencing, data management and computational analysis. In April, the company released GCAT - Genome Comparison and Analytic Testing, a free community driven platform for evaluating the performance of next-generation sequencing (NGS) data analysis methods. The platform has gained tremendous traction and was recently showcased at Bio-IT World and the Clinical Genome Conference. Arpeggi has developed proprietary sequencing tools, designed for scale, that enable accurate, fast, and cost-effective analysis of genomes. This year, Arpeggi was selected as one of 14 startups, out of 400 applicants, to join the StartUp Health and GE Entrepreneurship Program to help grow, commercialize and scale new innovative healthcare technologies.
"We are thrilled by the acquisition of Arpeggi and excited to continue to help Gene by Gene on its mission to lead the rapidly advancing genetics testing and sequencing market," said Unity Stoakes, cofounder and President of StartUp Health. "This acquisition represents a significant combination of technologies, expertise and infrastructure that we believe will make an important impact on the future of the genomics sector and how many people have access to these innovations."
Rafael Torres, Senior Managing Director, GE Ventures- Healthcare said, "The deluge of data generated from genomic testing and the ability to store, analyze and interpret it efficiently has been a bottleneck for organizations focused on large scale sequencing. Arpeggi's solution provides an infrastructure that helps human genomic and bioinformatics companies get the most out of their data. We're proud to have Arpeggi involved with our Entrepreneurship Program with StartUp Health and cannot wait to see them further advance DNA testing through the marriage of science and technology."
The entire Arpeggi team and technology platform will be incorporated into Gene by Gene. Additionally, Arpeggi's founders will join Gene by Gene's management team, effective immediately. Arpeggi's Nir Leibovich was named Gene by Gene's Chief Business Officer, Jason Wang was named Chief Technology Officer and David Mittelman, Ph.D was named Chief Scientific Officer.
Gene by Gene's Doron Behar, M.D., Ph.D. was also named Chief Medical Officer. Gene by Gene's Blankfeld and Bennett Greenspan continue to serve as the company's Managing Partners.
Financial terms of the transaction were not disclosed.
About Gene by Gene Ltd.
Founded in 2000, Gene By Gene, Ltd. provides reliable DNA testing to a wide range of consumer and institutional customers through its four divisions focusing on ancestry, health, research and paternity. Gene By Gene provides DNA tests through its Family Tree DNA division, which pioneered the concept of direct-to-consumer testing in the field of genetic genealogy more than a decade ago. Gene by Gene is CLIA registered and through its clinical-health division DNA Traits offers regulated diagnostic tests. DNA DTC is the Research Use Only (RUO) division serving both direct-to-consumer and institutional clients worldwide. Gene By Gene offers AABB certified relationship tests through its paternity testing division, DNA Findings. The privately held company is headquartered in Houston, which is also home to its state-of-the-art Genomics Research Center.
Source: Gene By Gene
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.