19 December 2019 | News
BC Platforms has closed USD $15 million financing round alongside a new commercial collaboration with IQVIA
Image Courtesy: BC Platform
BC Platforms, a world leader in genomic data management and analytics, today announced that it has closed a USD $15 million financing round alongside a new commercial collaboration with IQVIA™. The round was led by IQVIA in conjunction with Debiopharm Innovation Fund and Tesi, a Finnish venture capital and private equity company. As part of the collaboration, IQVIA and BC Platforms plan to launch new data driven technologies, integrating complex clinical and genomic data, to benefit transformational research.
IQVIA and BC Platforms have a shared vision to build a world leading analytics platform to enable the pharmaceutical industry’s advancement of precision medicine, improving the efficiency of drug development and patient outcomes. BC Platforms technology will enhance IQVIA’s E360™ Genomics - a scalable, privacy-preserving genotypic-phenotypic database solution - in supporting a federated data network of genomic related analytics designed to protect patient privacy.
BC Platforms will use the fundraising proceeds to expand its global network of clinical and genomics data, delivering novel automated solutions to pharmaceutical companies. To date, the company has established partnerships with approximately 100 enterprise level healthcare systems and biobanks globally in 25 countries and has recently established an entity in Singapore to spearhead its growing activities in Asia.
Tero Silvola, CEO at BC Platforms, said: “IQVIA and BC Platforms aim to combine genomic and clinical data assets around the world. IQVIA´s E360™ Genomics is built on patented techniques that allow us to build data access without compromising data privacy and security. Together with IQVIA´s deep healthcare expertise in managing and curating real-world data, we believe that we can accelerate precision medicine initiatives for patient benefits. This funding and commercial collaboration will help accelerate our growth in serving healthcare and Life Science customers as well as connecting data partners in a global, interoperable federated network."
Rob Kotchie, President, Real World Solution, IQVIA, said: “Drawing insights from integrated clinical-genomics data is a growing need of our life science and healthcare customers. Through the combination of BC Platforms technologies - which automates the workflow from genomic instruments to actionable insights – with IQVIAs leading real-world technologies platform we can enable customers to conduct novel research and discover new insights to advance healthcare.”
Tom Gibbs, Director at Debiopharm, commented: "We are dedicated supporters of innovation and believe that digital health and data accessibility are going to be key drivers of future healthcare research and development. We are delighted to be supporting BC Platforms, a leader in the field of genomic data management, in the next stage of their expansion and are excited by the potential of this collaboration with IQVIA."
As part of its investment, IQVIA will have a designee on the BC Platforms’ Board of Directors.