Ingenuity® Systems and Covance Genomics Laboratory will work together to develop approaches that enhance next-generation sequencing (NGS) data. The aim is to obtain more actionable insights from NGS data and to answer research questions in a relevant biological context.
The companies will develop new methodologies that integrate high-quality NGS data with industry-leading knowledge generation and management tools. Ingenuity's IPA® software will be the used in the collaboration.
Ingenuity says that IPA relieves the NGS data analysis bottleneck by providing the biological context necessary to move past the long noisy lists of genes, isoforms, and variants, helping to uncover those that are most critical to biology. The software allows researchers to analyze, integrate, and understand data derived from gene-expression, miRNA, and SNP microarrays; metabolomics and proteomics experiments; and small-scale experiments that generate gene and chemical lists.
Privately held Ingenuity has won financing from investors that include Accel Partners
Questmark Partners, Three Arch Partners, Bay City Capital, Morgan Stanley Capital Partners, and Oracle Venture Fund. Ingenuity has also received strategic investments from partners that include Millennium Pharmaceuticals and Affymetrix Corporation.
Covance provides technologies for assessing gene expression and sequence variation in preclinical and clinical programs. The company says its technologies have run more than 450,000 samples to date.
Publicly traded Covance finished the fourth quarter of 2010 with net income of $28.4 million, down nearly 32% from the year-ago quarter’s $41.5 million, largely reflecting $18.4 million in restructuring costs. Revenues for Q4 rose 2.4% over the same period in the previous year to $519.5 million.