NewGenia is bringing computational DNA analysis to the clinicians by building an INTELLIGENT web-based Decision Support System, that allows the Clinicians to make better decisions faster!
Current Status
Prototype is ready. We have received positive feedback from Amsterdam Cancer Center and Sanquin Group. We are still in talks with them.
We have made partnerships with Amsterdam Health and Technology Institute and were selected by HealthInc program. This enabled us to grow our network
Market
Customer Segments involve Pathology Labs that are performing genetic testing using Next Generation Sequencing and Hospitals.
The first target market is Europe, UK followed by South American market and then Asia, Africa and lastly US.
Problem or Opportunity
In 2020, 10 Million deaths took place from Cancer alone! 10% of ALL cancers are inherited disorders. 7 million births suffer from serious genetic defects!
Therefore, Computational DNA analysis, using a technique called Next Generation Sequencing, is important to be made widely available. A growing number of Clinicians want to avail such DNA analysis, but they are unable to fully use it because it is expensive, has extremely long processing times, the generated reports are difficult to understand and there are no integrations with electronic health records of the patients!
Solution (product or service)
Our solution is an Intelligent, web-based Decision Support System for the Clinicians to enable them to make better decisions faster! It uses automated NGS pipelines and Machine Learning methods (DeepLearning and NLP) to reduce the cost and processing time by 50%!
It is the only solution that is focusing on the Clinicians. All of this being built by considering different ISO standards for medical devices / software, GDPR and HIPAA requirements.
Competitors
Competitors include the following names:
Agilent, deCode Genetics, BioStrand, OncoDna and Qaigen
Also, some majority of the labs in Europe are using In-house developed pipelines
Advantages or differentiators
The advantages of using newGenia instead of the competitors and existing solutions are as follows:
1. Up-to 50% of cost and time saving
2. We are the only ones who are targeting the clinicians (in other words, we have created a new direct user base. )
3. Our solution can be used by Labs as well due to its simplicity
4. We provide integrations with Electronic Health Records of the patient
5. Using Machine Learning methods, we significantly reduced the need of highly skilled and costly human resources
6. Due to reduced human involvement, our system will allow searches through non-English medical research / clinical journals as well
7. Updates will be provided to the clinicians regarding status changes of mutations associated with the patients genes.
Business model
Our solution will be subscribed by Hospitals and Pathology labs. Our users will be Clinicians, Bioinformaticians.
The subscribing customers will be able to pay using subscription models (volume based pricing and fixed pricing model).
For additional features, we also offer addons pricing model.
Money will be spent on
Product Development
Marketing
Patent and administration costs
