Genomic data is considered to be the key to unlocking so-called “precision medicine”. By 2025, 500 million human genomes will have been sequenced, but only a fraction of it is being utilized for drug discovery and precision medicine.
One of the key startups to emerge in the space is Lifebit, which allows wider access to global biomedical data for drug discovery. It’s now raised a $60 million funding round led by Tiger Global Management. Existing investors Eurazeo, Pentech Ventures and Beacon Capital also participated.Dr. Maria Chatzou Dunford, Lifebit CEO and former bioinformatics researcher said: “We believe all biomedical data that can be used to save lives, should be used. People are dying because of how this data is being handled, and making distributed highly sensitive biomedical data usable while keeping it secure in-place and combining it with other data has never been possible, until now.”