Red Herring Private Company Profiles: Compugen

Market/Product
Develops software tools for analysis and management of genomic sequencing data as well as accelerator peripherals for the software. Combines Web-based data warehousing with data management and analysis software. Launched first product, a peripheral device used to accelerate biotechnology software programs, in 1993. Launched a line of sequencing analysis software in 1996. Last November released a faster version of its bioaccelerator with support for more programs. Algorithm software for data mining in genomic databases was scheduled to be released in the first quarter of this year. Targets large pharmaceutical, biotechnology and genomics companies. Customers include Incyte and Human Genome Sciences. Competes with Paracel.

Finance/strategy
Not profitable. Received seed funding of $1 million in summer 1994 and summer 1996 from private investors and Israel Seed Limited Partnership. Closed a first round of $8.5 million in June 1997 from U.S Venture Partners, Oppenheimer, Apax, and private investors, including Chairman of the Board Martin Gerstel, former CEO of Alza, and Alejandro Zaffaroni, founder of Affymax and cofounder of Alza. Total capital raised: $9.5 million. CEO cofounded the company and was previously marketing director of Orckit Communications and a member of an R&D unit in the Israeli defense forces.

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