Health Biotech Startup PhiTech Receives $250 Thousand Investment for Genome Technologies

Arya GSYF, established in partnership with Arya Women’s Investment Platform and Maxis, announced that it made its seventh investment in PhiTech, a health biotechnology company focused on genome technologies.

PhiTech, founded by Dr Saliha Durmus, Prof Dr Tunahan Cakir and Prof. Dr. Erdogan Sevilgen, is developing an artificial intelligence-supported clinical decision support system that processes DNA and RNA sequence data. The startup, which aims for early and accurate diagnosis, especially in rare genetic diseases, against diagnostic processes that can take years, is preparing to start offering bioinformatics (data processing) solutions that bring the diagnostic power of RNA into clinical practice, through its platform called Genomics & More, at the beginning of 2024.

In PhiTech’s first investment round, which was completed in February 2023, the names Aytul Ercil, Candan Karabagli, Cengiz Aydin, Emine Erdem, Nese Gok, Omer Aras, Selen Kocabas, Sena Nomak and Temel Guzeloglu were included as investors, along with IstCapital and Omurga Teknoloji GSYF. Company co-founder and CEO Saliha Durmua stated that they completed the company structuring in America by accelerating their R&D processes after the first investment round and that they are about to complete the structuring in the Netherlands. The company plans to close this second investment round, in which Arya GSYF participated, before the end of 2023.

Arya GSYF’s decision to invest in PhiTech was shaped by the team of highly competent scientists with complementary expertise established under the leadership of Saliha Durmua and the deep technological R&D studies developing innovative diagnostic solutions. Beyond DNA-based technologies that have transformed medicine in the 21st century, it is known that innovative RNA-based approaches will now play an active role in diagnosis and treatment. PhiTech aims to make significant contributions to the field globally with the bioinformatics solutions it develops in this field.

Source: Egirisim / Prepared by Irem Yildiz

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