Robert Bosch Venture Capital joins Variantyx’s US $26 million Series C funding round
STUTTGART, Germany, Nov. 15, 2021 /PRNewswire/ — Robert Bosch Venture Capital GmbH, the corporate venture capital company of the Bosch Group, has completed an investment in Variantyx Inc. Variantyx and Robert-Bosch Hospital join forces to improve personalized oncology treatment with plans to incorporate the Variantyx solution into the oncology treatment process. Variantyx provides clinicians with advanced diagnostics and personalized treatment recommendations for oncology patients’ based on their unique genetic makeup.
“For several years the Robert-Bosch Hospital, the Robert Bosch Stiftung, and the Bosch Group have been joining forces to fight cancer,” says Dr. Ingo Ramesohl, Managing Director of Robert Bosch Venture Capital. “Variantyx’s solution is outstanding. Together, Variantyx and Bosch are eying to bring new research, diagnostics, and precision medicine to oncology patients and clinicians.”
Disrupting the genetic testing industry
The Variantyx proprietary platform and comprehensive data analysis enable a better understanding of each patient’s unique genetic composition, providing industry leading diagnoses and personalized treatment recommendations. Variantyx’s tests delve deep into the genetics of an individual, providing insights and analytics that no other diagnostic laboratory can deliver today. Variantyx’s oncology solutions identify the unique genetic alterations in a patient’s tumor. Profiling these alterations helps predict the patient’s response to various therapies, enabling clinicians to provide the most effective personalized care for their patients.
According to a recent Markets And Markets report, the global genomic diagnostics market size was valued at USD 22.7 bn in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 19% between 2021 and 2025.
“Partnering with RBK enables an entirely new approach to cancer treatment by analyzing the specifics of each individual patient and personalizing care to optimize their healthcare treatment,” says Haim Neerman, co-Founder & Chief Executive Officer at Variantyx. “This opens the door for other areas of medical intervention to take a more innovative and individualized approach to treatment.”
The Robert Bosch Center for Tumor Diseases (RBCT) is part of the Robert Bosch Medical Research (RBMF) and focuses on improving the treatment of cancer patients. Patients at the Robert-Bosch Hospital are advised and treated in line with the latest research results. “Variantyx’s solution can very well complement the existing and established activities in tumor-research to bring new research quickly to the patient. We are pleased to partner with Variantyx, utilizing their unique proprietary software to analyze data more precisely to create a more insightful approach to cancer therapy,” says Helia Schönthaler, COO of Robert Bosch Medical Research.