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BioDatomics Secures New Investment, Grant to Drive Growth of NGS Data Analysis Platform [Health & Beauty Close - Up](Health & Beauty Close - Up Via Acquire Media NewsEdge) BioDatomics, a supplier of bioinformatics analysis software and services that improve genomic research productivity, said that it has received a grant from the National Institutes of Health (NIH) and a capital investment from the Maryland Department of Business and Economic Development's (MDBED) Maryland Venture Fund (MVF). In a release, BioDatomics said that these strategic investments will allow the Company to further expand the capabilities of their next generation sequencing (NGS) data analysis platform, BioDT. The NIH continues to support NGS projects that focus on solving Big Data challenges associated with genomic research, and on democratizing access to advanced analysis platforms. With this NIH grant, "Building an open-source cloud-based computational platform to improve data access," BioDatomics will further expand its open- source toolset, bringing these added capabilities to researchers and bioinformaticians alike. "BioDatomics and the NIH share a mutual goal of accelerating genomic-based discoveries," said Alan Taffel, President of BioDatomics. "While NGS funding has traditionally focused on generating new data, there is now an obvious need for NGS users to be able to glean insights from that data more quickly and intuitively." In addition to the NIH grant, BioDatomics said that it also received an investment from the MVF, which provides capital to innovative Maryland-based technology companies. Recognizing the avalanche of NGS data being generated by academic and commercial research organizations, and the need to analyze that data more efficiently, MVF took the opportunity to invest in a platform created specifically for that purpose. "BioDatomics operates at the intersection of two of Maryland's fastest-growing sectors -- biotechnology and big data. We are proud to make this investment in BioDatomics and look forward to their growth and success in Maryland," DBED Secretary Dominick Murray said. "Supporting entrepreneurs and small businesses in high-tech, high-growth fields is critical to the success of our economy and State. Companies like BioDatomics are facilitating the development of cutting-edge medicines, vaccines and technologies that keep us safer, healthier and better-connected than ever before." "The investment from the Maryland Venture Fund serves as a validation of our approach and provides significant strategic value well beyond a financial commitment," Taffel said. The Maryland Department of Business and Economic Development stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |