Accenture (ACN) Announces Strategic Investment in Geneyx
- S&P 500 ends lower on mixed Fed messages, PCE on deck
- Salesforce lifts annual guidance after Q3 earnings beat expectations; stock jumps
- Economic outlook deteriorates as growth, inflation slows: Fed's Beige Book
- UAW push to organize Tesla (TSLA) and non-union auto sector
- After-hours movers: Salesforce, Snowflake jump on strong results
Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Geneyx Genomex Ltd. (Geneyx), an Israel-based developer of genomic analysis and interpretation software. Geneyx helps improve patient outcomes associated with hereditary and rare diseases by providing disease-specific, clinically relevant insights around risk prediction, diagnosis, prognosis, and treatment for clinical and pharmaceutical organizations.
Today, many patients receive standardized disease treatments which are safe and efficient, but not adaptive to an individual’s unique genetics. Through “New Science". biopharmaceutical companies have made considerable advances in developing targeted treatments, including cell and gene therapies, rapidly moving the industry toward individualized treatments and disease interventions. Yet, often, this data is siloed at hospitals and research institutions, hampering our collective understanding of disease biology and the development of more effective therapeutic options.
Geneyx’s AI-based platform is an example of New Science in action: it provides biomedical interpretation capabilities that better enables clinicians and researchers to use the power of whole-genome sequencing to advance human health. Geneyx technology leverages AI to improve risk prediction, diagnostic yield, prognostic prediction, and treatment insights supporting clinical decision-making and biopharmaceutical research, which help accelerate the development of targeted and personalized therapeutics.
Geneyx is also joining Accenture’s network of innovation partners connected to the INTIENT platform, which enables life science companies to advance the discovery, development and commercialization of New Science by connecting deeper intelligence to actions that improve outcomes. INTIENT helps clients achieve these goals by leveraging leading cloud-based technologies and an open partner network to improve collaboration between scientists, researchers and clinicians.
“We need to improve the treatment-cost equation from the current ways of operating to new ways of discovering, developing and commercializing treatments,” said Stuart Henderson, Accenture’s global lead of the Life Sciences industry group. “Geneyx is driving a model of collaboration to break down silos in the healthcare ecosystem to support the capture of the genetic data that will benefit each patient in their treatment journey.”
David Yizhar, Geneyx CEO and co-founder, added, “Accenture’s investment and support will enable Geneyx to accelerate the adoption of our AI-based genomic interpretation technology on a global scale helping to leverage insights from siloed genetic data around the world and powering clinical research and pharmaceutical discovery.”
Geneyx is part of Accenture Ventures’ Project Spotlight, an engagement and investment program that connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s domain expertise and its enterprise clients, helping startups harness human creativity and deliver on the promise of their technology. Geneyx is also the latest addition to the investment portfolio of Accenture Ventures, which is focused on investing in companies that create or apply disruptive enterprise technologies.
“Accenture’s investment in Geneyx reflects our ongoing commitment to strengthening companies with the potential to transform their industries,” said Tom Lounibos, managing director of Accenture Ventures. “Geneyx is well-positioned to make meaningful impact in clinical genetic data analysis, ultimately helping more patients in need. We are excited to support them on this important journey.”
Terms of the investment were not disclosed.
Accenture’s Life Sciences industry group helps pharmaceutical, biotech, medical technology, distributor and consumer health companies combine the latest technology with scientific breakthroughs to revolutionize how medical treatments are discovered, developed and delivered to patients around the world. To learn more, visit https://www.accenture.com/us-en/industries/life-sciences-index.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Accenture (ACN) acquries Bangkok-based Rabbit's Tale
- KKR & Co. (KKR) acquire remaining 37% of Global Atlantic for $2.7B
- Accenture to Acquire Ammagamma to Help Italian Companies Advance Use of AI Technologies
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!