Genetics testing is certainly on the rise. Companies with large advertising budgets like 23 and Me has started to become somewhat of a household name in the States, and hospitals and individuals alike are digging into the new technology to see what timebombs might be hiding in our genes.
A Finnish player in this space, Blueprint Genetics, looks like it's on a solid path after Inventure and Avohoidon Tutkimussäätiö, a Finnish foundation, announced that they've put close to €2 million into Blueprint, raising their total funding to €2.96 million. Previously the company was invested in by a group of Finnish business angels and Tekes, which we reported totaled €1 million. With the funding Blueprint is launching a U.S. office to boost North American sales.
Under Blueprint's hood is it's own proprietary Next-Generation Sequencing (NGS) technology, which they say provides higher quality data, quicker test results, and are more cost-efficient to run. According to the company, Blueprint's results are the most comprehensive on the market and are already being used for 60 hospital customers in 10 countries, suggesting good growth on the B2B side.
You can get an basic overview of the types of tests they provide on their Testing page, which seem to run between €1,000 and €1,900.
The technology and company's story is quite interesting, so we have to recommend you read our long profile on the company from February.