Algorithmic Biologics makes genomics affordable, eliminating 60 to 90% of library preparation costs
Patented algorithms bring efficiency and scale, democratising precision medicine
Bengaluru-based deeptech startup Algorithmic Biologics (AlgoBio), leveraging advanced algorithms and artificial intelligence (AI) to revolutionise molecular testing efficiency and scale, unveiled the Tapestry platform for next-generation sequencing (NGS) at Genomics India Conference 2024, held in Greater Noida, from 1st to 3rd February 2024.
Aligned with the company's vision of enabling accurate and affordable large-scale molecular testing, Tapestry empowers genomics labs to cut sequencing costs significantly by eliminating 60 to 90% of library preparation costs that is 33 to 50% of the total sequencing costs.
Founded by Dr Manoj Gopalkrishnan, a multi-disciplinary technologist and professor at IIT Bombay, AlgoBio also announced securing $2.5 million in pre-series A funding led by Bharat innovation Fund (BIF) ventures with participation from existing investor Axilor Ventures.
Proceeds of the fundraise will be used to support the product pipeline, building the sales organisation and furthering their international expansion.
AlgoBio has recently partnered with Dhiti Omics Technologies, one of the pioneers of molecular diagnostics services in India to offer ‘Focused Exome Sequencing’ powered by Tapestry.
At the turn of the century, the first human genome was sequenced at the price tag of $2.7 billion. Over the next two decades, this price point has come down to 0.00001% of that but it still remains out of reach for most of us. However, recent advancements like compressed sensing technology from AlgoBio are dramatically lowering costs, bringing NGS closer to routine checkups. This shift holds immense potential for personalised medicine and improved healthcare.
Published on : 05th February, 2024