Merck co-leads Genopore Seed investment round
Join pharma giant in early disease detection via proteomics
- First large-scale, low-cost, single-molecule protein sequencing and identification system aims to enable early detection of cancer and other diseases
- Seed-stage, pre-revenue startup pioneering revolutionary proteomic technology developed over decades of research at Harvard, Boston U and Technion-Israel Institute of Technology's Meller Lab; exclusive option to license IP developed at the Technion-Israel Institute of Technology
- Liquid biopsy detection of cancer from blood sample instead of tissue is fast-growing market: Oxford Nanopore, similar technology for DNA and RNA, has $2.1B valuation
- World-class team of academic and industry veterans led by Prof. Amit Meller with backgrounds in biophysics, semiconductors, and systems, combining leading-edge technology with industry expertise
- $10M Seed round led by Merck
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Dear Josb,
Proteomics, the extensive study of proteins, is the next big transformation in life sciences. Proteins provide more information than genetics because they are impacted by both genetics and environmental factors. The ability to analyze single molecules in a sample can drive significant improvements in capabilities in the early detection of cancer and other diseases, as well as a wide range of sectors, but is technically very challenging to achieve.
OurCrowd is investing in Genopore, an Israeli seed-stage, pre-revenue startup developing technology to take proteomics to a new level. The details in this email are based on information received from, and verified solely by, the company.
The Solution
Genopore plans to be the first company to deliver a revolutionary, true single-molecule, cost-effective, highly accurate, highly sensitive, and high-throughput whole-protein identification system using chip-based technology. This capability will enable the early detection of cancer and other diseases.
Genopore expects its technology to find applications in drug discovery, clinical applications, the food industry, agriculture, and research and academia.
Genopore is tying together advances in biochemistry, semiconductors, photonics, and artificial intelligence/machine learning. The company's core optical nanopore sensor technology, Opti-Pore, was developed by co-founder Professor Amit Meller, a world-renowned scientist, while working at the Technion-Israel Institute of Technology, Harvard, and Boston University.
The Market
Liquid biopsy - the detection of cancer from blood samples instead of tissues - is a rapidly growing market. Oxford Nanopore, a company using similar technology to analyze DNA and RNA, has a $2.1B valuation. The global proteomics market was valued at $22.3B in 2021 and is expected to increase at 13.5% CAGR to $70B in 2030. Key factors driving industry growth include rising demand for personalized medicines and advanced diagnostics in targeted disease treatment, and the high prevalence of target diseases.
The Team
Genopore's world-class team brings together academic and industry veterans. In addition to Prof. Meller, the team includes executives with backgrounds in biophysics, semiconductors, and systems, combining leading-edge technology experience with industry expertise. CEO David Baum is a serial entrepreneur who has founded leading semiconductor companies that reached hundreds of millions of dollars in sales.
The Traction
Since we launched this opportunity on the OurCrowd platform, the company reports the following significant developments:
MOU with the Technion-IIT: Genopore received an exclusive option to license the relevant IP and know-how developed at the Technion-Israel Institute of Technology. This license includes future relevant IP that will be developed by the Technion.
Discussions with potential nano-fabs: The company received positive indications on its ability to produce nanopores in a commercial fab.
Journal publications: Results of an analysis of the proteins' translocation dynamics at the relevant SDS level performed in Prof. Meller's lab at the Technion were published in the ACS Nano Journal. In addition, Amit Lab has published a paper on Genopore's technology, co-led by prominent nanopore groups worldwide: Bayley, Dekker, Meller, Maglia and Long.
Device demonstration: The company successfully demonstrated a full micro-fluidic device in Prof. Meller's lab at the Technion.
Patent application: The company filed a provisional patent application related to detection of fluorescence emissions in an integrated chip.
This Round
Merck is co-leading this $10M Seed round. Proceeds will be used to develop the complete system, based on the core patented technology that Prof. Meller has been working on for years.
Meet the CEO
Watch an investor briefing with CEO David (Dudi) Baum and learn more about Genopore.
The Genopore Solution
Genopore is developing an end-to-end solution comprised of a system, consumables and reagents, data analytics, and bioinformatics capabilities. The Genopore platform will be high performance with high sensitivity, high throughput, and a high dynamic range. It will have single-molecule resolution to cover 99% of the human proteome, from single cells, and it will be cost-effective. Genopore's technology enables a small form-factor product for field applications in various industries, without requiring trained technicians.
Next steps:
Photo Credit: http://www.meller-lab.net
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