Genizon BioSciences

Founded in 1999 and formerly known as Galileo Genomics, Genizon BioSciences was a Montreal-based genomics company that focused on discovering genes and biomarkers related to common diseases. The company's core strategy revolved around leveraging the unique genetic makeup of the Quebec founder population—a group descended from French immigrants who settled in the early 1600s—for its genome-wide association studies (GWAS). This particular population provided a relatively homogenous gene pool, which the company utilized to identify genetic susceptibilities for a range of complex disorders.

Genizon's business model was centered on forming partnerships with pharmaceutical companies to translate its genetic discoveries into new drug targets and diagnostic tools. The company successfully secured deals with major players like Pfizer, for Alzheimer's disease and attention-deficit disorder research, and Genentech, for Crohn's disease. Over its lifespan, Genizon raised a total of $130 million in funding over several rounds, with its final Series E round in 2008 bringing in $30.8 million. This capital was used to finance its extensive genome-wide association studies and to build comprehensive maps of genes and biomarkers for conditions such as schizophrenia, psoriasis, and metabolic syndrome.

Despite its initial promise and significant funding, Genizon BioSciences ceased operations and was placed into receivership in July 2011. The closure was primarily attributed to an inability to raise further funds as faster, more advanced technologies like next-generation sequencing surpassed Genizon's platform. The company's assets, including a substantial biobank of genetic material and advanced laboratory equipment, were subsequently handled by a court-appointed receiver.

Keywords: genomics, biomarker discovery, genome-wide association studies, GWAS, Quebec founder population, genetic research, drug targets, complex disorders, pharmacogenomics, Pfizer partnership, Genentech partnership, molecular diagnostics, bioinformatics, population genetics, disease susceptibility, Alzheimer's research, Crohn's disease research, gene mapping, ceased operations, Galileo Genomics