Truveta sells stakes to Regeneron, Illumina in deal to build genetic database

13/1/2025 19:49

Medical data research company Truveta said on Monday that Regeneron Pharmaceuticals , Illumina and 17 U.S. health systems will take a $320 million stake in the company as part of a deal to build the world's largest genetic database.



It said, the deal values privately held Truveta at more than $1 billion. Biotechnology company Regeneron pledged to put in $120 million and genetic sequencing company Illumina is investing $20 million.



The rest will come from U.S. health systems including New York-based Northwell Health, multi-state non-profit Trinity Health and Advocate Health, based in Chicago.



The project aims to accumulate 10 million genomic sequences relatively quickly, a move the parties said would accelerate drug discovery and transform patient care.



Truveta CEO Terry Myerson, "This is knowledge we just don't have. We don't know today why some people get lung cancer and have never smoked. We spend billions of dollars a year in colonoscopies on people that will never get colon cancer."



Genetic sequencing can help indicate patient predispositions for diseases like Alzheimer's and sickle cell, aiding in drug development, or identify mutations associated with cancer or other diseases that a particular drug may target effectively.