Deep Genomics secures $5 mln in True Ventures-led seed round

Toronto-based bioinformatics startup Deep Genomics has raised $5 million in seed-stage financing. True Ventures, a U.S. venture capital firm, led the round with participation from other investors that included Bloomberg Beta, a fund capitalized by Bloomberg LP. Deep Genomics, which spun out of the University of Toronto in 2014, is focused on developing machine learning technologies to transform precision medicine, genetic testing, diagnostics and the development of therapies. Its said it will use the proceeds of the seed round to grow the company's team and further develop and validate its proprietary technology.

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