Oncology data and informatics platform M2GEN has announced a significant investment by three major venture investment firms: Clayton, Dubilier & Rice (CD&R), Merck Global Health Innovation Fund (Merck GHI), and McKesson Ventures. The investment will recapitalize M2GEN to accelerate the growth of M2GEN’s clinicogenomic data asset and advance the company’s technology and informatics capabilities. The terms of the transaction were not disclosed.
McKesson Ventures and Merck GHI invested alongside CD&R funds, now the company’s largest shareholders. Existing shareholders Moffitt Cancer Center, Hearst, and Ohio State Foundation continue to hold a significant minority interest in M2GEN.
“McKesson Ventures is proud to support M2GEN’s leading and comprehensive clinicogenomic data platform. Our investment directly reflects McKesson’s broader commitment to advance and improve community oncology care through The US Oncology Network and Ontada, our innovative oncology technology and insights business,” said McKesson Ventures Senior Vice President and Managing Director Dave Schulte.
M2GEN runs one of the world’s largest observational research studies in cancer, which tracks patients throughout their lifetime, links longitudinal clinical data with molecular information, and enables a deeper understanding of a patient’s disease. M2GEN has established one of the largest and most comprehensive clinicogenomic databases in the U.S., empowering innovative, collaborative cancer research and supporting the development of novel oncology drugs by its biopharmaceutical partners.
M2GEN’s data platform includes more than 300,000 patients across its alliance of leading cancer research centers, known as the Oncology Research Information Exchange Network (ORIEN). ORIEN members benefit through collaborative research and shared data; the company’s biopharmaceutical partners benefit through access to the network and a dataset that supports clinical trial design, patient recruitment, and new therapy development.
Read the original press release here.