Toronto, Ontario: PhenoTips®, the first precision medicine software company to offer a complete genomic health record system, has announced their graduation from the 2019-2020 Health stream of the Creative Destruction Lab (CDL) program, a startup accelerator hosted by the University of Toronto’s Rotman School of Management.
Developed out of necessity, PhenoTips’ self-titled flagship software has the unique ability to fully integrate into existing genetic workflows, supporting digital data collection for improved efficiency and insights. Having now completed the CDL, PhenoTips is one of 21 companies to graduate from the Health stream out of over 2,000 total applicants.
“To say we’ve grown as a company would be an understatement,” says PhenoTips CEO Dr. Orion Buske. “Over the 9-month duration of the program, our team has nearly doubled in size, we’ve rebranded, we’ve launched a new website, as well as an accessible, web-hosted offering for small teams and individuals.”
“The feedback and guidance we’ve received from our mentors has been invaluable,” says PhenoTips COO Dr. Pawel Buczkowicz. “But in addition, the CDL has given us the opportunity to connect with our existing clients and users to better understand their needs.”
As graduates, PhenoTips intends to apply lessons learned and continue towards their projected growth, which is needed now more than ever. “Because of the COVID-19 pandemic, patient care is 60% virtual. In the next 12-18 months, genomics will be forced to adjust to foreign, digital workflows, and we are in a unique position to ease this transition. It’s important to continue scaling, as we have been, to accomplish our mission of empowering life-saving genomic care and breakthrough discoveries.”
About PhenoTips: PhenoTips challenges the status quo of medical care in genetics, working towards a future where genetic data is unified, rather than siloed, to empower life-saving care. Founded in 2014 out of a research project at SickKids Hospital and the University of Toronto, PhenoTips’ software is designed to solve the problems commonly faced in medical genetics, with a genomic health record system that makes data standardized, interoperable, and usable. PhenoTips’ solutions are used in over 60 countries by leading hospitals and research institutions, such as Stanford Children’s Health and Great Ormond Street Hospital.
About the Creative Destruction Lab: The Creative Destruction Lab (CDL) is a seed-stage program for massively scalable, science- and technology-based companies. The nine-month program employs an objectives-based mentoring process with the goal of maximizing equity-value creation. The CDL is particularly suited to early-stage companies with links to university research labs. Launched in 2012 at the Rotman School of Management at the University of Toronto, the program has now expanded with locations in Atlanta, Calgary, Halifax, Montreal, Oxford, Paris and Vancouver. Companies that graduated from the Lab's first five cohorts between 2012 and 2017 have generated more than $2.5 billion (CAD) in aggregate equity value. CDL graduates include Aluna (San Francisco), Deep Genomics (Toronto), Coastal Genomics (Vancouver), Atomwise (San Francisco), Automat (Montreal), BenchSci (Toronto), Kyndi (Palo Alto), Kepler (Toronto), and Heuritech (Paris).