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Gene by Gene acquires Arpeggi Inc.
HOUSTON—Gene by Gene Ltd. has announced the acquisition of Arpeggi Inc., which develops solutions for genome sequencing, data management and computational analysis. Arpeggi is backed by StartUp Health and GE. Once the transaction is complete, the combined company will be able to offer a suite of affordable genetics testing and diagnostics services for consumers, researchers and healthcare providers. No financial details for the transaction were made available.
"The acquisition of Arpeggi's technology and world-class team of data and technology experts will enable us to accelerate Gene by Gene's plan to make next-generation DNA sequencing and clinical genomics accessible and affordable to all," said Max Blankfeld, managing partner of Gene by Gene, in a press release. "We are on a mission to transform healthcare by dramatically speeding up the process, and reducing the costs, of genetic tests, which today are often far too expensive for the average customer."
As a result of this acquisition, the entire Arpeggi team and the company's technology platform will be incorporated into Gene by Gene, with Arpeggi's founders joining the Gene by Gene management team. Nir Leibovich of Arpeggi has been named chief business officer for Gene by Gene, with Jason Wang to serve as chief technology officer and David Mittelman, Ph.D., taking up the position of chief scientific officer. Gene by Gene offers DNA testing to answer paternity questions, determine ancestry, identify genetic disorders or inherited diseases and for research.
"The deluge of data generated from genomic testing, and the ability to store, analyze and interpret it efficiently, has been a bottleneck for organizations focused on large-scale sequencing," Rafael Torres, senior managing director at GE Ventures-Healthcare, commented in a statement. "Arpeggi's solution provides an infrastructure that helps human genomic and bioinformatics companies get the most out of their data. We're proud to have Arpeggi involved with our Entrepreneurship Program with StartUp Health and cannot wait to see them further advance DNA testing through the marriage of science and technology."
Arpeggi, which debuted in 2012, released a new platform in April: GCAT- Genome Comparison and Analytic Testing, a free, community-driven platform for evaluating the performance of next-generation sequencing data analysis methods. Arpeggi was chosen as one of 14 startups to join the StartUp Health and GE Entrepreneurship Program this year.
"We are thrilled by the acquisition of Arpeggi and excited to continue to help Gene by Gene on its mission to lead the rapidly advancing genetics testing and sequencing market," Unity Stoakes, co-founder and president of StartUp Health, said in a press release. "This acquisition represents a significant combination of technologies, expertise and infrastructure that we believe will make an important impact on the future of the genomics sector and how many people have access to these innovations."
SOURCE: Gene by Gene press release