In 2009, we saw the industry at large make huge progress towards this goal with great advances in lowering the cost of sequencing, improvements in software, and the continued evolution of low-cost, scalable, cloud computing services. At GenomeQuest, we are thrilled to be a part of this expanding ecosystem.
Westborough, MA (Vocus) February 11, 2010
GenomeQuest today issued its annual summary for 2009. An overall strong performance was led by record revenues across its target markets, continued high satisfaction and renewal rates, and the adoption of its new sequence data management (SDM) platform across major accounts in life sciences.
“In 2009, we saw life science executives seeking to shift from fixed costs to variable costs in order to focus more resources on discovery,” stated CEO Ron Ranauro. “In the software area, they sought and began adopting commercial SDM solutions to support that goal. Our SDM product was very well received, making 2009 an outstanding year for GenomeQuest.”
Company highlights for the year include:
A fourth consecutive year of revenue growth, including record subscription levels and a five-year compound annual growth rate of 48% on subscriptions.
An account base that has grown to include 17 of the top 20 pharmaceutical firms, which are now using GenomeQuest for mission-critical research. And strong product satisfaction within its accounts as evidenced by a 91percent renewal rate, 40 percent growth on renewed subscriptions at major life sciences firms, thirty times more sequences managed, and a 344 percent increase in sequence search activity.
The release of GenomeQuest 6.0, the world’s first commercially available SDM platform, which allows researchers and their organizations to mine, manage, and share their next-generation sequencing (NGS) data.
Significant improvements to the GenomeQuest sequence comparison engine, including high-performance database-to-database comparisons at NGS volumes, multi-algorithm support, a post-comparison querying browser, aggregation of results, and universal support for all popular NGS instruments.
Multiple advances in the GenomeQuest IP sequence search business including a co-marketing agreement with global publisher Thomson-Reuters, weekly automated patent collection and normalization from around the world, web-based querying/reporting of results, and over 670,000 patents now stored in the GQPAT database.
The appointments of industry luminary Mark Boguski, M.D., to the GenomeQuest science advisory board, and market development veteran Anthony Flynn to the position of chief marketing officer.
Alignment of its global sales force to address and service the focused needs of large pharmaceutical and agricultural firms, biotech firms, genome centers, core labs, and academic institutions and researchers.
“As critical as operational excellence is for life science organizations, going forward, we also see the industry committed to and preparing for a larger dynamic – personalized medicine,” said Ranauro. “In 2009, we saw the industry at large make huge progress towards this goal with great advances in lowering the cost of sequencing, improvements in software, and the continued evolution of low-cost, scalable, cloud computing services. At GenomeQuest, we are thrilled to be a part of this expanding ecosystem.”
Ranuaro continued, “It’s also clear that personalized medicine calls for massive, ongoing collaboration. In response, GenomeQuest is delivering and optimizing SDM as a collaborative ‘cloud’ resource – enabling, for example, pharmaceuticals to integrate patient data from global research institutes into their drug-discovery cycle.”
In the coming weeks, GenomeQuest will be scheduling briefings with bioinformatics and IT managers on its upcoming comprehensive API for the GenomeQuest SDM platform and will release the full findings of its NGS survey.
GenomeQuest, the leader in sequence data management (SDM), helps genomic researchers and their organizations make great discoveries far faster. Over 160 leading life science companies including 17 of the top 20 pharmaceuticals, use GenomeQuest for mission-critical work.
Using GenomeQuest, organizations improve the performance of their discovery process and broadly prepare for next generation sequencing (NGS). Researchers perform discoveries, manage and share sequence data, and access the world's largest collection of reference databases from a Web browser and personalized dashboard. Bioinformatics managers customize discovery workflows and unify their sequence data environment using the open platform. IT and business managers efficiently scale to broad utilization of next generation sequencing in their discovery operations using the GQ-Engine.
Learn more at GenomeQuest
© 2010 GenomeQuest Inc. All rights reserved. GenomeQuest is a servicemark and the GE-Engine is a trademark of GenomeQuest Inc.