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Mayo Clinic and GE’s Startup Vineti Receives US$13.5 mn Investment

In recent times, the development and advancements of targeted gene therapies to fight chronic diseases such as cancer are being marred by traditional procedures and paperwork. While US$5.7 bn were allocated to organizations developing genetic and cellular therapies, close to 800 clinical trials were initiated across the world, and the first two CAR-T cell therapies are expected to get launched into thSoe market later this year, businesses feel that last mile delivery, paperwork, and inefficient supply chain management are preventing these treatments from getting to patients.

In an attempt to mitigate this issue, GE and the Mayo Clinic along with the venture investment company DFJ invested US$13.75 mn to start a software platform, Vineti. GE and Mayo Ventures has been working together for last two years from the birthing of the concept to the closing of this new round of financing for Vineti.

Cancer to Remain Primary Target of Vineti’s Software

Vineti’s software has the ability to track logistics, manufacturing, and clinical data to enhance treatments and cut down the cost of these therapies, which is often only accessible to people with extensive health plans. It will make the cell and gene therapy production procedures more efficient. While the technology can find applications in a number of different treatments and therapies, the primary focus, for now, is on cancer. Cancer, according to Amy DuRoss, chief executive at Vineti, is among the biggest causes of human sufferings and if its treatment is introduced to the market effectively, it could bring a massive change.

Rohit Bhisey
With more than 10 years’ experience in the field of Internet marketing and market research, Rohit’s passion lies in understanding the global and regional trends across multiple industries and scrutinizing their impact at various levels. His attention to detail and his perseverance shine through in highly analytical articles as presented on Transparency Journal.

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