BioNanomatrix Closes $23.3M Series B Equity Financing Round
BioNanomatrix, Inc., a Philadelphia, PA-based developer of nanoscale, single-molecule imaging and analysis platforms designed to reduce the time and cost needed to analyze the genome, has closed a $23.3m Series B equity financing round.
The round was led by Domain Associates, with participation from new investor Gund Investment Corporation and existing investors Battelle Ventures, Innovation Valley Partners and KT Venture Group.
In conjunction with the financing, Domain Associates Partner Brian K. Halak, PhD., joins the company’s Board of Directors.
Led by newly elected president and chief executive officer R. Erik Holmlin, the company is currently advancing toward commercialization of its nanoAnalyzer platform for whole genome analysis. This technology is designed to reduce the time and complexity to analyze the genome and provide additional information, including structural variation data, which is not easily addressed with current methods.
The capital infusion will enable BioNanomatrix to establish a strong West Coast presence.