Central regions | Finance, business | Technology & innovation
U.S.’ GenapSys raises $37m for its next gen sequencing platform; Russia’s Milner among investors
19 Nov '13
An international investor consortium has put up $37m for GenapSys, a U.S.-based provider of next generation sequencing (NGS) systems commercializing its DNA sequencing solution called GENIUS 110 (Gene Electronic Nano-Integrated Ultra-Sensitive), the developer announced last week.
The Series B financing includes existing investors Decheng Capital and IPV Capital, with participation from new investors including Yuri Milner, a prominent Russian investor in digital industries, as well as Stanford StartX Fund and some other private and institutional investors.
Dr. Hesaam Esfandyarpour, GenapSys Founder and CEO, said in a statement that his company was “…delighted to include such high caliber investors as shareholders. With this financing, we now have all the pieces in place to deliver on the commercial promise of the GENIUS system.”
“What we are developing at GenapSys will enable the genomic revolution not only for healthcare, but for a wide range of applications. Genomics will improve the quality of human life and elevate our understanding and knowledge about the world in which we live,” he added.
GenapSys is headquartered in Redwood City, CA. It is a venture-backed privately¬‐held company that has created, developed and is producing its genomic testing system for the rapidly developing NGS market.