Invitae Corp., a San Francisco genetic information company, has bought Dallas-based Ommdom Inc., developer of the acclaimed CancerGene Connect software.
Ommdom has sold its outstanding capital stock for about $6 million in Invitae common stock, according to a release. Invitae reported a revenue of $10.3 million in the first quarter of 2017.
Ommdom’s signature software, CancerGene Connect, was first created by former UT Southwestern Medical Center breast surgical oncologist David Euhus.
Ommdom was founded in 2015 with the intention of developing and commercializing health care software. Its signature software, CancerGene Connect, was first created by former UT Southwestern Medical Center breast surgical oncologist David Euhus. CancerGene Connect was a 2015 graduate of the Tech Wildcatters accelerator, according to D CEO‘s Danielle Abril.
The software, which Ommdom has an exclusive license from UT Southwestern to continue to develop and commercialize, works to uncover an individual’s diagnosis and potential treatment by using their genetic history.
By gathering and archiving family medical histories in cloud-based data storage before a clinician visit, and analyzing the patient’s risk for cancer and other diseases, the software provides possible testing and treatment approaches available for patients.
Invitae currently administers a diagnostic service that holds 1,500 genes related to various genetic disorders, according to the release. The Ommdom acquisition will help expand its genome management offerings to aid health care professionals and patients in utilizing genetic information in medical care.
“We are extremely proud of the platform we’ve built with CancerGene Connect and the impact it has on improving care for patients,” said Ommdom CEO Richard Burghardt, in a release.
“Although most frequently discussed in relation to cancer, family health history also has significant and growing importance in the prevention and management of heart, metabolic, neurological, and other diseases.”
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