San Diego startup Pleno snags $40 million to uncover biomarkers to help fight disease [Breaking]
San Diego’s Pleno, a startup that’s using signal processing techniques from cellular communications to increase the number of biological targets that can be detected for research and medical diagnostics, has landed $40 million in a Series A round of venture capital funding.
Pleno is the latest entrepreneurial venture of Pieter van Rooyen, who previously founded Edico Genome. The company developed the DRAGEN platform, a combination of hardware and software that accelerates the processing of mountains of data produced by genomic sequencing equipment.San Diego’s Illumina acquired Edico Genome about four years ago for $100 million, and DRAGEN remains a branded staple of Illumina’s next generation sequencing product portfolio.
“Pleno’s team has developed a versatile platform at the intersection of technology and life sciences which has the potential to disrupt existing sequencing and multi-omic approaches that are critical for drug development and clinical diagnostics,” said Dr. Andrew ElBardissi, a partner at Deerfield Management, which led the latest funding round.
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