Latest Sema4 News
Jul 26, 2021
Jul 26, 2021 11:37am Spun out of Mount Sinai in 2017, the Sema4 platform uses machine learning and other artificial intelligence tools to analyze a database of more than 10 million patient genomic profiles and clinical records. (monsitj/GettyImages) Clinical data and genomics company Sema4 debuted on the stock market Friday, raising $500 million to "step on the gas" and accelerate the growth of its healthcare intelligence platform. The Connecticut-based venture of Mount Sinai Health System went public via a SPAC merger at a valuation of around $3 billion. Sema4 announced the planned merger in February after closing a $121 million series C in August 2020. It began trading on the Nasdaq Global Select Market Friday under the ticker symbols “SMFR” and “SMFRW." Spun out of Mount Sinai in 2017, the Sema4 platform uses machine learning and other artificial intelligence tools to analyze a database of more than 10 million patient genomic profiles and clinical records, with the goal of improving physicians’ ability to diagnose, manage and ultimately prevent disease. The company has entered into various partnerships with health systems to build genomics programs, including Evanston and AdventHealth. Sema4 ’s healthcare intelligence platform aims at building models capable of predicting the courses of conditions and individual outcomes. The company intends to use the influx of capital – approximately $500 million in cash proceeds – to support its organic operating needs and capitalize on inorganic opportunities to accelerate growth through the acquisition of complementary businesses. The company also plans to use the funds to increase uptake of Sema4’s health platforms in healthcare systems and investments in integration. “With the capital raised from this successful transaction, we are well-positioned to help further close the gap between the practice of medicine and the availability of more clinically actionable guidance in order to improve the standard of care," said Eric Schadt, Ph.D., founder and chief executive officer of Sema4 in a statement.