EXOME

all the information, none of the junk | biotech • healthcare • life sciences

Veritas Genetics Lands $30M for $1,000 Genome Sequencing

Xconomy Boston — 

Veritas Genetics, which sells genome sequencing and genetic screening tests, has received a $30 million Series B round of funding to add more products, build out its digital tools for consumers, and ink partnerships with hospitals and researchers around the world.

The Boston-based company simultaneously hired three new executives to handle each of those endeavors: Tim Smith as chief operating officer, Rodrigo Martinez as chief marketing and design officer, and Doug Flood as chief commercial officer. Co-founded by Harvard Medical School professor George Church in 2014, the company has raised $42 million in venture money so far.

A bevy of companies offer a variety of similar tests, from genome sequencing businesses such as Illumina and Human Longevity, to DNA-testing businesses such as 23andMe. For $999 a pop, Veritas sequences whole genomes using machines made by Illumina, and then delivers health insights that can be viewed on a smartphone or computer. Veritas also offers screening tests for hereditary cancer and reproductive health.

The funding round was led by Trustbridge Partners and Jiangsu Simcere Pharmaceutical, while existing investor Lilly Asia Ventures also participated.