WhiteLab Genomics, a Y-Combinator backed AI-powered predictive software simulation platform for the design of gene and cell therapies, announced a $10 million funding round. The round was led by Omnes Capital, one of the leading French venture capital firms, and Debiopharm the Switzerland based independent biopharmaceutical company with a venture arm focused on digital health.
WhiteLab Genomics aims at revolutionizing genomic therapy development using public and private data and in-house AI algorithms. The company is supporting its clients through the in-silico development phases enabling them to quickly develop target vectors, payloads, and bring genomic based therapies to market at a faster pace.
The proceeds from this financing round will help further develop WhiteLab Genomics' AI based platform, scale its R&D team and fund their expansion to the US. The company was founded in 2019 by David Del Bourgo and Julien Cottineau, experts in genomics drug development and commercialization. Together, they established the WhiteLab Genomics headquarters in Paris, France and are currently setting up their US operations in Cambridge, MA.
"We are experiencing a strong demand from leading pharmaceutical and biotechnology companies within many sectors of healthcare. They all understand the huge potential of genomic therapies and the significant role of data and AI when it comes to advancing and developing healthcare. At WhiteLab Genomics, we offer our expertise, specific sets of data and algorithms dedicated to their therapies. Now, to best meet our prospects and customers' needs, we need to scale all sectors of our company.", said David Del Bourgo, co-founder and CEO of WhiteLab Genomics.
Currently, WhiteLab Genomics' customer base spans from biotech and pharmaceutical companies in Europe and the US to provide solutions for new drug development programs including RNA, DNA and Cell based therapies. WhiteLab Genomics is also collaborating with world renowned INSERM and Genethon laboratories and has been selected by Y-Combinator in its Winter 2022 batch.
"We are very excited to close this first institutional investment round with such renowned investors with deep knowledge of the pharma environment. With this funding, we can continue developing our proprietary data sets and algorithms for the next generation of genomic therapy vectors and payloads. We look forward to bringing these solutions to our customers and partners." said Julien Cottineau, co-founder and CSO.
Data shows that up to 4,000 human diseases including Alzheimer's Disease, Parkinson's Disease, Cystic Fibrosis, Cardiovascular Disease, Duchenne Muscular Dystrophy, and some types of cancer, originate from errors and changes in an individual's DNA sequence. WhiteLab Genomics technology aims to help develop solutions to repair and replace these defective sequences instead of treating systems. The rising field of genomic medicine is set to treat these pathological conditions at their source, stably replacing the needs for drugs or surgery.
"We have been bullish on the development of genomic therapies and investing in companies at the intersection of AI and biotech. WhiteLab Genomics fits right in this sweet spot. We're impressed by what the company has achieved in 2.5 years and look forward to seeing the impact ahead of us and look forward to this exciting journey with them." said Renaud Poulard - Managing Partner Omnes Capital
Hamzeh Abdul-Hadi, Investment Director at Debiopharm added "David and Julien have assembled a unique team of data scientist and bio computational engineers and partner with world class genomics teams of leading research institutes such as Inserm and Genethon. Altogether, one of the best worldwide clusters of talent in the field of AI for genomics. We are very excited to become shareholders and be able to support this great company in its growth phase."