PrecisionLife unveils new spin-out Synomics taking its proven analytics platform into animal and crop health sectors
PrecisionLife Ltd, leaders in combinatorial analytics, today unveils the launch of its new spin-out Synomics Ltd. Synomics will develop and market applications of the PrecisionLife® combinatorial analytics platform for the improvement of the health and yield of livestock and crops in sustainable agriculture and food production. Wheatsheaf Group, PrecisionLife’s lead investor has invested in Synomics, with PrecisionLife retaining a minority equity holding.
Synomics licensed PrecisionLife’s platform following successful projects that proved that it outperforms established statistical genetics methods in predicting the genetic merit of animals. As well as significant technology license fees and a minority equity stake, PrecisionLife will benefit from on-going royalties and a seat on Synomics’ Board.
The drivers for crop and animal genetic improvements are huge; increasing commercial returns, improving food security in response to climate change, and reducing environmental impact.
With support from Wheatsheaf Group, PrecisionLife established and incubated Synomics, building a team of highly experienced agriculture domain experts, and delivering proof of concept projects with major producers in the food industry. Its combinatorial approach finds significantly more signal and actionable insights in smaller datasets than existing methods.
“Establishing a spin-out ensures that potential value derived from applications beyond our core focus on human disease and healthcare accrues to shareholders while enabling each business to focus on their respective customer bases” said Dr Steve Gardner, CEO and founder of PrecisionLife.
He continued, “We were keen to work in animals and crops because of their complementary challenges. While the genetics are simpler, we often capture more phenotypic data about a dairy cow than a patient, even in a hospital setting. Synomics enables us to prove the value of combinatorial analytics in a different industry, with immediate quantifiable commercial benefits over existing approaches for genomic and multi-omic analysis.”
PrecisionLife may create further spin-outs in the future, bringing together expert teams and investors, to translate the unique insights and intellectual property arising out of its high resolution disease analysis in specific drug discovery or diagnostics applications.
“Peter Kristensen, CEO of Synomics said “Unlocking the power of biology to enable new innovation through the food chain in order to ultimately feed the world’s billions in a sustainable way is a gigantic ambition but I believe that using our proprietary combinatorial analytics platform to find more signal in animal and crop datasets, we can give the industry the insights to do it.”
PrecisionLife is headquartered near Oxford, UK and has operations in Aalborg and Copenhagen, Denmark, Warsaw, Poland and Cambridge, MA, USA. The company’s unique combinatorial analytic platform generates more insights into the complex biology of chronic diseases, driving the next wave of precision medicine applications and finding new treatment opportunities for patients’ unmet medical needs. PrecisionLife partners with disease charities, clinical research groups, CROs, best of breed technology providers and pharma, biotech and healthcare companies to improve our knowledge of chronic disease biology. PrecisionLife operates an innovation engine that translates proprietary disease biology insights into new drug discovery programs, more successful and cost-effective clinical trials and more personalized clinical decision support tools.
About Wheatsheaf Group
Wheatsheaf Group is an international investor in food and agriculture businesses. Wheatsheaf’s purpose is to rethink and re-shape how food is grown, produced, distributed and consumed, partnering with like-minded people to understand the complex interconnectedness of our agricultural ecosystem to manage its effects and enhance human health, our environment and enable producers to thrive. One of the largest and longest established investment teams in the sector, Wheatsheaf adopts a far-sighted perspective with the aim of developing innovative business models and to harness the insights and power of technology to identify, develop and scale up lasting solutions.
For more information see https://www.wheatsheafgroup.com/
Synomics Ltd, based in Oxford UK and Copenhagen, Denmark, is a biological insights business that can create new insights rapidly, in ways that current genomics technology cannot achieve, through a combination of its proprietary combinatorial Insights Platform applied by a team of highly experienced agriculture domain experts. Synomics aims to give scientists, farmers and food producers the ability to learn more about the animals they breed and the crops that they grow with insights they have not been previously able to liberate from the data they already hold. Synomics mission is to unlock the power of biology to enable new innovation through the food chain in order to ultimately feed the world’s billions in a sustainable way.
For more information see https://www.synomics.ai/
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At the company
Dr Steve Gardner, CEO email@example.com M: +44 (0)7799 671644, T: +44 (0)1865 575170