BC Platforms, a Helsinki-based developer of genetic data management solutions, has raised €9 million in second-round financing as it gears up to launch new solutions for combining clinical and human genomic data.
Such solutions can be utilised to promote the development of precision medicine, for example.
The software developer says the funding will allow it not only to double its customer service and product development staff in Finland but also to develop its sales and customer service organisations in Europe and the United States.
BC Platforms’ operations revolve around big data. It gathers data from biobanks, combines them with other clinical data and analyses the resultant datasets in light of the needs of medical practitioners and pharmaceutical companies.
“The health care industry and [health care] providers have only recently realised how big data can be utilised in the field of genetics. A major shift has been within our reach only for some time. We’ve identified a path and strategy for growing in the field,” Tero Silvola, the chief executive of BC Platforms, says to the financial magazine.
He believes the ability to produce and analyse massive datasets by means of new technologies will have a profound impact on medical practices in the near future. Finland, he adds, has an excellent opportunity to take advantage of the development.
A treasure trove of clinical data
Finland has already established itself as a frontrunner in genetic research due to, in part, the abundance of genetic data, medical records and disease-specific information stored in its readily accessible national registers.
The volume of data – while impressive – is not outright exceptional, reminds Nora Kaarela, the head of health and well-being industry at Finpro’s Invest in Finland. What is, however, is the possibility to freely combine genetic data with other clinical data, such as patient medical records.
“There’s a good deal of data also in other countries, but here the data have been digitised. In other countries, patient data are more fragmented: as patients move from one place to another, their medical records may not move with them. Our patient health data are centralised thanks to our public health care system,” she tells.
“The data here are also unusually rich. The monitoring of people’s health begins immediately after birth in Finland.”