Eagle Genomics, a medtech company pioneering the application of network science to microbiome biology, has closed a round of $9 million (€7.6m) scale-up funding. The funding was led by the Environmental Technologies Fund (ETF) and a consortium of investors headed by Granpool Innovative Investments and including Albert-László Barabási, bpd partners and Anatom Holding.
The funding will allow the commercial expansion of Eagle Genomics across Europe and the US, while enabling further development of its AI-augmented knowledge discovery platform: the e[datascientist].
WHY IT MATTERS
Eagle Genomics combines microbiology and data science expertise to drive microbiome-related research. The microbiome is the genetic ecosystem of bacteria, fungi and viruses that live on and inside the living organisms and is directly related to health and is affected by the products we use and consume.
The e[datascientist] knowledge discovery platform utilised AI to analyse complex genomic and microbiomic data, providing unique insights and enabling brands to assess the efficacy and safety of proposed products. This will help companies to find solutions to problems such as the future of food, sustainable agriculture and the treatment of non-communicable diseases.
Anthony Finbow, CEO of Eagle Genomics, stated: “The microbiome is a megatrend that is evolving very quickly, and we are the forefront of associated discovery with our unique solution to address the enterprise data challenge.”
THE LARGER PICTURE
Microbiome research is a field attracting attention from global brands including Unilever and Microsoft, with whom Eagle Genomics are partnered. This has meant a surge in microbiome funding, such as to Vivante Health and DayTwo, who promote microbiome research as key to personalising medical treatment.
ON THE RECORD
Finbow commented: “We are on course to establish Eagle Genomics as a market leader at this transformative time and anchor our position as the preeminent platform vendor enabling the digital reinvention of life sciences R&D. […] We have our sights set too on other complex data challenges including CRISPR and quantum biological challenges, such as understanding the immune response more fully. The potential is phenomenal, and we are immensely grateful to our supporters for sharing our vision and helping us to scale at this pivotal time.”
Rob Genieser, partner at ETF Partners, said: “We are delighted to see Eagle Genomics go from strength to strength, and to be able to support this crucial next stage of growth. The timing could not be better, with the world’s focus on disease and accelerated innovation and ever more in-silico innovation. We wish the team all the best in expanding its reach and deepening its capabilities.”
Investor Albert-László Barabási added: “This is an immensely exciting science, and the appetite for the company’s unique and powerful platform is clear from the work Eagle Genomics is already doing with the likes of Unilever and the advanced discussions with some of the biggest companies in the world.”