Omniome, Inc., a San Diego, CA-based developer of an innovative new DNA sequencing platform, completed $60m in its Series B financing.
The round was led by Decheng Capital and Hillhouse Capital Group, joined by Lam Research Capital and Nan Fung Life Sciences as well as current investors ARCH Venture Partners, Domain Associates, Biomatics Capital Partners and Altitude Life Science Ventures.
The company intends to use the proceeds to expand its capabilities by hiring new team members across multiple disciplines, particularly in engineering, and building out additional research and production capacity.
Led by Dave Mullarkey, President and CEO, and Ken Song, M.D., Executive Chairman, Omniome is developing a DNA sequencing platform that delivers accurate and fast results with the potential to advance cancer diagnostics, drive single-cell applications and support clinical sequencing. Its scar-free, Sequencing By Binding™ (SBB™) technology provides enhanced precision of nucleotide and DNA matching by leveraging the natural matching ability of the polymerase, decreasing runtimes and increasing the number of samples per run.