DNA collecting firm picks up backing

Acompany that wants to help you sell your DNA data is getting backing from venture capital investors.

Nebula Genomics, co-founded by Harvard Medical School professor George Church, said 10 firms invested $4.3 million (Dh15.79 million) that it will use to create a secure marketplace for individuals’ genomes, the chemical codes that govern how organisms grow and operate.

The backers include Khosla Ventures, Arch Venture Partners and Fenbushi Capital, and Nebula is working with genome sequencer Veritas Genetics International Ltd.

Thanks to genomic research, companies such as Alnylam Pharmaceuticals Inc. have been able to design drugs that precisely target flawed genes.

Food giant Nestle SA wants to use genetic data to help design nutritional programmes for customers. Yet developing and refining such products often requires access to massive stores of data that consumers and patients may be reluctant to part with because of concerns about privacy or whether their cooperation will be rewarded.

Lower access barriers

“Our investors, along with Veritas, share our commitment to lowering access barriers to genomic data, and solving one of the primary roadblocks preventing personalised medicine becoming a reality today,” said Kamal Obbad, Nebula’s CEO. “With this funding, we are moving closer to a new age in personalised medicine.”

Health data, especially genomic information, is seen as a gold mine for companies that collect it as part of their business. Drugmakers including GlaxoSmithKline Plc are buying access to data from 23andMe Inc., a seller of DNA testing that’s created one of the world’s largest genetic databases. England’s National Health Service is working with Sensyne Health to market anonymised patient data for research.

Nebula uses blockchain along with a platform developed by Veritas to allow individuals to upload genomic data and then share it with specific companies, researchers or other parties.