NEW YORK (GenomeWeb) – Blueprint Genetics this week announced it raised €14 million ($16 million) in a new financing round, bringing the total investment in its history to €23 million.
The financing round was led by new investors Creathor Venture and MedTech Innovation Partners. Existing investors Inventure and Pontos Group also participated.
Based in Finland, Blueprint develops genetic tests based on its artificial intelligence platform called CLINT and its proprietary targeted sequencing technology, OS-Seq, developed at Stanford University. Its clinical-grade NGS panels cover more than 2,200 disorders in disease areas such as cardiology, ophthalmology, hematology, neurology, and immunology, Creathor said in a statement.
The new funding will go toward growing the company, strengthening its sales, and expanding its geographic footprint, the firm said. Additionally, it plans to use the funding to increase the efficiency of its sequencing platform and to continue developing its software component and data pool to make the interpretation of genetic data more efficient.
The funds will allow the firm to move its technologies to the "next level in terms of services provided, efficiency, and level of automation," Blueprint CEO Tommi Lehtonen said in a statement. "Our vision is to bring the use of genetic information to mainstream healthcare, and we strongly believe that cost efficiency combined with uncompromised, high quality is the key to achieve this goal."
He added in an email that of the €23 million in financing it has received since its founding, €16 million is in equity, while €7 million is in debt instruments.
In March, the firm also forged a collaboration with FDNA to integrate that firm's phenotyping software into Blueprint's workflow.