NextCode Health is seeking to extract untapped value from the assets of deCode genetics by using sequencing data to improve clinical diagnoses. NextCode is focused on building its user base via partnerships with medical centers and universities.
Amgen Inc. acquired deCode genetics ehf in late 2012 for $415 million in cash because it wanted to use the Icelandic company's databases and data mining and computational expertise to identify and validate drug targets. However, Amgen said it was not interested in continuing to offer deCode's diagnostics and genomic screening services (see BioCentury, Dec. 24, 2012).
As a result, NextCode debuted last October with a $15 million series A round from Polaris Partners and Arch Venture Partners and an exclusive, five-year license from Amgen to use the deCode genomics platform for