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Ann Arbor Spark

February 12, 2020

Genomenon Named 2020 Genomics Company of the Year by Frost & Sullivan for Advancing Clinical Genomics Interpretation and Personalized Medicine

“Powered by its proprietary Genomic Language Processing™ algorithm and genomic literature database, Mastermind has emerged a leading automated disease-gene-variant association database,” said Christi Bird, Principal Consultant at Frost & Sullivan. “Unlike other commercially available tools, the first-in-class genomic database search engine enables full articles and supplemental datasets searches across the genomic literature—allowing geneticists, molecular pathologists, and researchers to identify disease-causing variants from genomic-sequencing datasets quickly and accurately.”

Genomenon’s Mastermind accelerates genomic interpretation by identifying every research article that includes any given variant in the context of any disease or phenotype and delivers the search results prioritized by clinical relevance. It leverages artificial intelligence (AI) and machine learning (ML) to find more than 5.7 million identified genomic variants in over 7 million full-text articles and over 600,000 supplemental data sets. The platform offers the world’s most comprehensive gene and variant landscape, having indexed 100 times more content and identified 20 times more variants than HGMD, the incumbent database built by manual curation. 

Genomenon is aggressively expanding its compelling value proposition — accelerated time-to-treatment and increased diagnostic yields — to clinical labs around the world through partnerships, integrating the Mastermind search engine into existing clinical interpretation tools. In the past year, it signed agreements with Congenica, Fabric Genomics, GenomOncology, LifeMap Sciences, Diploid, Limbus, Shanghai Shanyi Biological Technology Co., and Google. It recently announced an additional two deals with SOPHiA Genetics and Congenica which are acting as a third revenue stream for Genomenon. As next-generation sequencing (NGS) labs use various companies with access to Mastermind for tertiary analysis, partnerships are becoming increasingly important for building stickiness and expanding geographical footprint. 

In addition, since its initial incursion into the pharmaceutical market, Genomenon continues to work with pharmaceutical, biotech, and diagnostic companies to advance their targeted therapeutics pipeline, particularly in rare and inherited diseases. The company’s evolving Data-as-a-Service solution offers curated datasets, updated quarterly, to accelerate genomic translational medicine, drug discovery, drug development, and clinical trial target selection for drug sponsors. With four of the top 25 pharmaceutical companies as customers to date, Genomenon reports astounding growth on DaaS licensing over the last year, attributing 50 percent of its total revenues to the pharmaceutical market 

Frost & Sullivan believes that Genomenon’s content-rich genomic database platform and AI-driven processing can mitigate early-stage genomic translational research challenges — e.g., biomarker utility, validation, and assay development strategies. Notably, precision oncology can propel the company’s Mastermind genomics search engine front and center, as drug- biomarker co-development in oncology plays an increasingly important role in targeted therapeutics.

With rapidly increasing SaaS and DaaS product sales, Genomenon will continue to show strong growth in this high-growth market as the healthcare industry turns to personalized medicine.  

To receive the Company of the Year Award (i.e., to be recognized as a leader not only in their industry, but among non-industry peers) requires a company to demonstrate excellence in growth, innovation, and leadership. This excellence typically translates into superior performance in three key areas — demand generation, brand development, and competitive positioning — that serve as the foundation of a company’s future success and prepare it to deliver on the two factors that define the Company of the Year Award: Visionary Innovation and Performance, and Customer Impact.

As an Ann Arbor SPARK client, Genomenon benefited from SPARK’s business accelerator grants supported by the Ann Arbor/Ypsilanti SmartZone Local Development Finance Authority (LDFA). These grants helped cover the costs of legal and marketing services, plus connected the company to Eastern Michigan University’s Digital Engagement Clinic summer internship program. In 2015, the Michigan Angel Fund became a Genomenon seed fund investor and three years later participated in the company’s 2018 Series A extension.