7-digit investment in future technological genetic testing 2

7-digit investment in future technological genetic testing

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Medical diagnostics are increasingly digitized, even in personalized medicine. Austria's Platomics GmbH is developing a digital platform for genetic data analysis. Therefore, the genetic plan should be deciphered and better understood. The company was able to generate 7-digit financing from international investors. No further details about the deal have been made.

Genetic tests in medical life

Sequencing the human genome for personalized diagnostics creates huge amounts of data. Reading this data is relatively easy and fast with new sequence technologies in recent years. However, very complex methods of analysis are required to interpret the data. Genetic tests are already standard in specific applications such as prenatal testing or cancer diagnosis. However, genetic testing is currently too expensive in everyday medical practice.

Genetic testing simply as a blood test

If properly interpreted, genetic tests can better understand the development of the disease and thus significantly improve diagnosis and therapy. The effects and side effects of drugs are also significantly influenced by the genetic plan. The widespread use of genetic testing is therefore inevitable, well Dr. Albert Kriegner, CEO of Platomics: "We are transitioning from a medical, technological and regulatory standpoint. Our vision is to make the genetic test as cheap and easily accessible as the conventional blood test." Platomics is the work of the Austrian Institute of Technology, where Kriegner heads the Bioinformatics Department.

Product in practice

Physicians 'and hospitals' diagnostic labs are already using the platform for standardized and validated analysis of their genetic data, according to PlatoMics officials. Exchange with genetic centers enables the practical implementation of the platform.

Next steps: AI, bioinformatics and more

The investment is expected to enable the expansion of Platypics' core activities: regulatory compliance, big data analytics, artificial intelligence, data security, software development and bioinformatics.