Newfoundland and Labrador-based Sequence Bio, a life sciences data and analytics platform, announced that the company closed a $1 million seed financing deal.
Canadian private equity firm Killick Capital accounted for $500,000 of the total amount, as it was added to Pelorus Venture Capital’s (the firm that manages Venture Newfoundland and Labrador) contribution back in July. Sequence Bio also said it has been backed by Klister Credit Corp.
At the same time, the company announced a partnership with the government of Newfoundland and Labrador, which will focus on health care outcomes. The government will support Sequence Bio in commercial research and development opportunities in Newfoundland and Labrador, while the ultimate goal will be to engage 100,000 voluntary participants in a large-scale initiative.
“We are uniquely positioned to become a global player in this industry and are focused on ensuring families and patients in our province, together with their health care teams, have improved patient outcomes and enhanced care,” said Dr. Tyler Wish, CEO and founder of Sequence Bio. “Minister Kent and his team have worked hard to support Sequence Bio, as a local company growing in the global market and we appreciate their leadership and efforts in advancing better patient outcomes in this province.”