Personalized medication startup Genetika+ scores $10M

Israel and Boston-based Genetika+ scored $10 million for its testing kit and personalized care algorithm aimed to match patients up to the best medications for their bodies. 

GreyBird Ventures led the round with participation from Meron Capital, Jumpspeed Ventures, Sapir Venture Partners and individual investors. 

WHAT THEY DO

Genetika+ is developing a test kit that is aimed at finding the best antidepressant or drug combination for a particular patient. The blood sample, along with a patient’s personal profile and genetic data, is analyzed by an algorithm that is designed to evaluate a person’s response to a wide swath of medications. The algorithm is able to test the blood samples against 70 cleared antidepressants or combination treatments. 

The company is then able to digitally send personalized recommendations to a physician to be incorporated into a treatment plan. 

WHAT IT’S FOR 

Genetika+ plans to put the new cash toward building out its clinical lab in Boston and furthering its expansion in the U.S. 

“Millions of patients around the world face an arduous journey to find the most effective medication to treat their depression,” said Genetika+ CEO Talia Cohen Solal, who cofounded the company along with COO Daphna Laifenfeld, in a statement. “Sadly, COVID-19 has led to even more widespread depression and a greater need for new solutions. We’re excited to secure this funding, which will enable the first biologically relevant measures to inform potentially life-changing medication selection decisions.”

MARKET SNAPSHOT

Today there are many companies looking at how a person’s individualized biological and genetic makeup can impact their reaction to medications. In 2020, consumer genetics company 23andMe landed FDA clearance for its direct-to-consumer personal pharmacogenetics report to guide the use of two treatments without confirmatory testing. 

North of the border, Vancouver-based Genxys is working on precision-prescribing software. The tool uses a software tool and genetics to help doctors determine whether a drug is right for a particular patient and what the right dosage should be. 

 

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