CosmosID Raises $6 Million in Series B Funding
ROCKVILLE, Md., Jan. 27, 2016 /PRNewswire/ -- CosmosID, the leading genomic big data company focused on microbiome research, outbreak investigations, and infectious disease diagnostics, using next-generation DNA sequencing, announced $6M in Series B funding. The company will expand its engineering capabilities, enhance clinical applications, undertake research and development to improve linkage of the DNA genetic code to actual biological traits (genotype to phenotype), such as antibiotic resistance, and develop new products for monitoring, predicting, and preventing disease outbreaks.
Bruce Grant, Vice Chairman of CosmosID and Chairman of Applied Value Group, lead investors in the Series B round, says, "We invest in small and medium-sized companies that can significantly create economic value for their customer base through innovation in radically improving cost and time efficiency for customers. Applied Value Group has achieved that in an array of industries from high tech to manufacturing. Among all of our current 25+ investments there is no one that will revolutionize the speed and cost efficiency for their customers like CosmosID. And much more importantly the outstanding accuracy in diagnosis will save a multitude of lives."
Key benefits of CosmosID's platform include:
- A single, rapid test to identify all microorganisms in a sample (bacteria, viruses, fungi, and parasites) and characterize their attributes (antibiotic resistance, virulence, etc.)
- Sequence to analysis in a clinically relevant time (<24 hours)
- Rapid screening for multi-drug resistant organisms (MDROs), also known as super bugs, including Clostridium difficile and Staphylococcus aureus
- Cloud-based or server-based implementation models. CosmosID can handle entire projects from sequencing through high quality microbiome analysis
- Can run on a laptop, without an internet connection, an ideal solution for investigating outbreaks in remote areas, such as the Ebola situation in Africa
- Curated database of more than 65,000 microbial genomes
- Results will improve patient outcomes, shorten length of hospitalization, allow better therapies, and reduce the total cost of care
- Food safety monitoring to reduce foodborne illnesses, such as recent E. coli and Listeria outbreaks
The company has clients in the pharmaceutical, probiotics, microbiome research, and food safety markets. The FDA awarded CosmosID a contract to facilitate faster and more accurate identification of both common and novel foodborne pathogens.
Key to long-term growth, the company is evaluating the clinical utility of its broad range pathogen detection system in partnership with 15 leading research hospitals in the US and Europe. George Watts, co-director of the Genomic Center at the University of Arizona said, "CosmosID can provide the resolution necessary for genomic sequencing of pathogens to become a reality in the shift to precision medicine."
Rita Colwell, Founder and Chair, says, "CosmosID developed an accurate, reproducible system that provides actionable identification of bacteria, viruses, fungi, and parasites, literally within minutes, using DNA sequencing."
"The next phase of the genetic revolution is in microbiology and we are excited to be a leading company innovating in this space. By analyzing huge amounts of data, we are able to make actionable decisions to improve health and well-being," said Manoj Dadlani, CEO.
CosmosID's capabilities are featured in a recently published paper in the Proceedings of the National Academy of Sciences. Ashok Chopra, the study's lead said, "CosmosID's unbiased metagenomic analyses helped us uncover how multiple strains, with varying virulence, of a flesh eating bacterium called Aeromonas hydrophila can crosstalk in developing devastating necrotizing fasciitis. Since these strains belonged to the same species, routine clinical diagnostic methods will never to be able to identify this mono-species polymicrobial infection. The precise strain level identification that CosmosID provides could revolutionize clinical microbiology, directing physicians towards improved and more effective treatment options."
Jon Ryan, 703-995-9879
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