NABsys Inc., a Providence, RI-based life sciences company which is developing its proprietary electronic, solid-state DNA sequencing platform, has received a $7m in Series B equity financing.
The round was led by Stata Venture Partners, with participation from Point Judith Capital (which led the company’s Series A round).
The funding will be used to accelerate the development and commercialization of the company’s proprietary DNA sequencing platform, which leverages semiconductor technology to achieve the scope and scale required for full integration of genomics into medicine.
In conjunction with the round, Ray Stata, founder of Stata Venture Partners, and founder and chairman of Analog Devices Inc. (NYSE: ADI), has joined the NABsys board of directors.
In 2009, NABsys closed a $4m equity round and expanded its board of directors with the appointments of proven life sciences industry veterans, including Stan Rose, Ph.D., president of Rose Ventures Inc., and Gina Raimondo, Ph.D., general partner at Point Judith Capital.