IT Healthcare startup BostonGene, founded in Boston in 2015, opened an office in Yerevan. The main activity of the company is to develop a distributed information and analytical system that provides oncologists with the necessary data for diagnosis and personalized treatment of patients. Earlier this month, the company raised $150 million in Series B, at a multi-billion dollar valuation.

BostonGene is a pioneer in using biomedical software to identify new and personalized treatment options with next-generation multi-platform analytics, improving and optimizing cancer patient outcomes.

The company provides comprehensive integrated genomic (WES) and transcriptome (RNA- seq) testing of tumors and the tumor microenvironment, providing clinicians with actionable information to help guide individual treatment plans. Their mission is to facilitate the healthcare transition toward personalized medicine using their AI-based molecular and immune profiling to improve treatment standards, accelerate research and improve economics.

The IT sector in Armenia over the past 10 years has shown unprecedented growth, recording an average annual growth of 23%. Over the past 2 years, more than 20 start-up companies in Armenia have received a total of $700 million in investments. Armenian start-ups with less than 30 employees are exempt from income tax until the end of 2023, and the income tax for employees is 10%. As of 2021, the total turnover of IT companies operating in Armenia exceeded $1 billion. As of 2021, the industry employs 29,000 professionals.