Celgene invests in GNS

Celgene (NSDQ:CELG) said this week that it has made another investment in GNS Healthcare and inked a deal with the bioanalytics firm for its “Reverse Engineering and Forward Simulation” software.

GNS’s software analyzes health data, including electronic health records, pharmacy claims and genomic sequences, and uses machine learning to answer questions in healthcare.

The multi-year agreement with Celgene involves several GNS employees working in Celgene facilities to help operate the software. “We were already working with them in the past, but this is now really deepening and broadening the relationship,” GNS co-founder and CEO Colin Hill told Xconomy.

Summit, N.J.-based Celgene also made a 2nd equity investment in GNS. Although the amount of Celgene’s investment was not disclosed, an SEC filing showed that GNS raised a total of $4 million in equity funding. Last year, Celgene participated in a $10 million Series C round for the company.

GNS told Xconomy that it plans to use the new funding to invest in development and gain access to more health data. “It’s really about continuing the investments that we’ve been making for a long time,” Hill told the news outlet. “As the industry is growing, as the need for our products and services is growing, we’re investing in supporting that because we really see a huge market for what we’re providing.”

In May this year, Celgene inked a collaborative deal with TriNetX to develop advanced clinical trial design for Celgene’s next-gen therapeutic programs. According to the agreement, Celgene will be able to access medical data from electronic medical records through TriNetX’s proprietary network of healthcare institutions.

The post Celgene invests in GNS appeared first on MassDevice.

from MassDevice http://ift.tt/2gDjX09