Regeneron Pharmaceuticals, Inc. announced on Monday that it is collaborating with the software company Truveta, Inc. and its network of U.S. health systems. The collaboration includes a strategic investment of $119.5 million in Truveta's Series C financing round and the initiation of the Truveta Genome Project.
This initiative aims to enhance the DNA sequence-linked healthcare database, potentially leading to the development of new genetic-based therapies and improved healthcare services. According to the collaboration agreement, Regeneron Genetics Centers will have exclusive rights to conduct research-related sequencing on the collected samples. They will also have access to de-identified electronic health records provided by study participants.
Both parties aim to leverage this data to develop advanced solutions for healthcare delivery and population health management, as stated by Regeneron.
Additionally, Illumina, Inc., a company specializing in DNA sequencing and array-based technologies and located in California, will contribute $20 million to Truveta's Series C financing round in support of the project.
In pre-market trading on the Nasdaq, Regeneron's stock is priced at $695, marking a 0.27 percent decrease.
