A $10.3 million San Francisco genetic information public company, Invitae Corp., has acquired the parent of Dallas software service CancerGene Connect, which initially developed at UT Southwestern Medical Center.
Ommdom Inc., founded in 2015 to develop healthcare software including CancerGene Connect, sold all of its outstanding capital stock in exchange for about $6 million in Invitae common stock as part of the agreement. No other financial terms were disclosed.
CancerGene Connect, a 2015 graduate of the Tech Wildcatters accelerator in Dallas, was developed by former UT Southwestern breast surgical oncologist David Euhus. The software allows practitioners to input information about their patients’ family and personal histories of cancer to help run cancer risk assessment models. Clinicians use the information to provide actionable analysis and therapeutic decisions. Ommdom is led by CEO Richard Burghardt.
The acquisition helps Invitae expand its suite of genome management offerings to help patients and healthcare professionals use genetic information as part of the care plan. “Although most frequently discussed in relation to cancer, family health history also has significant and growing importance in the prevention and management of heart, metabolic, neurological, and other diseases,” Burghardt said in a release. “Joining Invitae will broaden the reach of our technology, bringing its benefits to more clinicians and their patients.”
CancerGene Connect dates back to the late 1990s at UT Southwestern. In 2013, the medical center won the Innovator Award from the Association of Community Cancer Centers for the software. Ommdom has an exclusive license from UT Southwestern to further develop and commercialize CancerGene Connect.
