Investment catalyzes Tute Genomics’ efforts to enable genome-guided, individualized medicine in everyday healthcare.
FOR IMMEDIATE RELEASE
PROVO, Utah, June 16, 2015 – Tute Genomics, a leader in cloud-based analytics, interpretation, and reporting for clinical sequencing, today announced the closing of its Series A1 round of venture capital funding. The company raised over $3.9 million from a strategic group of investors, including internationally recognized Intermountain Healthcare, an integrated network of 22 hospitals and 185 physician clinics. Other major investors include Healthbox, a platform for innovation and entrepreneurship in healthcare, and China-based Tencent, one of the largest internet companies in the world.
“Intermountain has made a strong commitment to innovation and entrepreneurship within the healthcare system,” remarked Reid Robison, MD MBA, and CEO of Tute Genomics. “Intermountain’s goal of providing better health outcomes and more affordable care corresponds perfectly with our own quest to provide rapid diagnoses, more accurate treatments, and preventive medicine through genomics. Other forward-looking healthcare organizations are certain to follow Intermountain’s lead, as tomorrow’s healthcare will be driven by technological innovations.”
The success of the most recent investment round moves Tute Genomics closer to its goal of bringing technology for genome-guided precision medicine to the masses.
“Tute Genomics has worked tirelessly to make clinical interpretation and reporting of genomic data accessible to healthcare providers, and international investors have taken notice,” stated Kai Wang, PhD, President and Chairman of Tute Genomics. “Previous investors in this series include Peak Ventures and UK-based Eurovestech. Together with our partners, we have the power to transform healthcare and improve the lives of millions of people.”
Healthbox and Tencent joined Intermountain Healthcare as strategic investors in this recent financing. Healthbox is an integrated innovation platform, enabling healthcare entrepreneurs to grow sustainable businesses and helping leading healthcare organizations advance internal innovation. Nina Nashif, founder and CEO of Healthbox, will be joining the Tute Genomics Board on behalf of Intermountain Healthcare. Tencent is a leading provider of Internet services in China. It seeks to evolve with the Internet by investing in innovation, providing a hospitable environment for partners, and staying close to users.
The genome revolution is here, and Tute envisions a future where genome sequencing is part of routine clinical care, with genomic data integrated into medical records where it is most useful and actionable, giving doctors and patients alike access to genomic information at their fingertips. Genomics is changing healthcare as we know it, and with this new support from strategic investment partners, Tute is well-poised to help shape the future of medicine: unlocking the genome, personalizing treatment, and accelerating discovery.
About Tute Genomics
Tute Genomics is a Utah-based company that is powering the world’s genomic knowledge with a cloud-based genome interpretation platform for healthcare to enable predictive, preventive and precision medicine through genomics. To learn more please visit www.tutegenomics.com and follow us on twitter @TuteGenomics.
About Intermountain Healthcare
Intermountain Healthcare is a Utah-based, not-for-profit system of 22 hospitals, 185 clinics, a Medical Group with some 1,300 employed physicians, a health plans division called SelectHealth, and other health services. Helping people live the healthiest lives possible, Intermountain is widely recognized as a leader in transforming healthcare through high quality and sustainable costs. For more information about Intermountain, visit intermountainhealthcare.org, read our blogs at intermountainhealthcare.org/blogs, connect with us on Twitter at twitter.com/intermountain and on Facebook at facebook.com/intermountain.
Healthbox is the preeminent source of healthcare innovation and drives actionable collaboration between inventors, entrepreneurs and the healthcare industry. Our studio programs offer serious entrepreneurs the candid, unparalleled healthcare industry access and insight needed to succeed in a complex marketplace. We also partner with leading healthcare organizations to advance a culture of idea generation, business creation and external collaboration. With operations in Boston, Chicago, Florida, Salt Lake City and London, Healthbox is building a strong, global community dedicated to driving change in healthcare. Healthbox has a portfolio of more than 75 active companies and strategic partnerships with more than 30 healthcare organizations. For more information, visit www.healthbox.com.
Tencent uses technology to enrich the lives of Internet users. Every day, hundreds of millions of people communicate, share experiences, consume information and seek entertainment through our integrated platforms. Tencent’s diversified services include QQ, Weixin/ WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com and Tencent News for information and Tencent Video for video content. Tencent was founded in Shenzhen in 1998 and went public on the Main Board of the Hong Kong Stock Exchange in 2004. The Company is one of the constituent stocks of the Hang Seng Index.
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