Why we invested In Nest Genomics, democratizing genetics data
Genomic testing has the potential to help diagnose, monitor, treat, and prevent disease, while promoting good health through all phases of a person’s life. As genetic testing becomes more widely available, the challenge is to harness that information for clinical treatment.
Nest Genomics is developing a new software platform that integrates genetic testing information into electronic medical records, giving providers the ability to inform treatment decisions with data-driven insights. The platform, launched in the last quarter, is already attracting interest from major U.S. health systems.
We invested in Nest Genomics because its technology will enable a patient’s genetic test results to automatically become part of their health record — ensuring that individuals and their doctors have ready access to personal genomic data. Samsung Next joined an $8.5 million seed round that also included Y Combinator, B Capital Group, DCVC, Maven Ventures, and Anne Wojcicki, co-founder of 23andme.
We were impressed by the founder-market-fit for Nest Genomics. The company was co-founded by a dynamic married couple, who are serial entrepreneurs. Moran Snir and her husband, Guy Snir, co-founded Clear Genetics in 2017. They sold the company, a leading developer of software for providing genetic services to patients, to Invitae Corp in 2019.
Today, Moran serves as Chief Executive Officer of Nest Genomics, and Guy is the Chief Operating Officer. Prior to launching Clear Genetics. Moran was involved in promoting genetic testing in Israel. She was previously a software engineer for the Israeli military, studied biomedical engineering, and has an MBA from The Wharton School of the University of Pennsylvania, with a focus on healthcare management. Guy has held senior product roles at Twitter, SnappyTV, and Google’s Motorola subsidiary. He has a bachelor’s degree in computer science and an MBA from Duke University.
The Nest Genomics platform integrates with existing EMR systems. Once a patient’s genetic test results come back from the lab, the Nest software automatically generates a personalized care plan. This facilitates provider care decisions and helps patients schedule follow-up appointments. For example, a patient at risk for breast cancer would have a personalized plan that includes imaging, referrals to specialists, and recommendations for medication that can help prevent cancer.
The company’s initial go-to-market strategy is to sell into health systems, with a focus on cardiology and oncology. Genetic testing is already being used to assess and treat patients at risk for heart disease or cancer. In 2020, for example, the American Heart Association (AHA) recommended genetic testing to help diagnose patients with a family history of heart disease. The National Cancer Institute recommends genetic counseling and testing for at-risk patients and those with a hereditary cancer risk.
Nest Genomics is well-positioned to become a market leader in making genomic data part of mainstream treatment protocols. The market is currently at a tipping point, and the company’s platform can help meet a growing demand for genomic data that can be used in clinical settings.
Lizzy Goldman is an Investor at Samsung Next. Samsung Next's investment strategy is limited to its own views and does not reflect the vision or strategy of any other Samsung business unit, including, but not limited, to Samsung Electronics.