Purigen Biosystems, Inc., a Pleasanton, Calif.-based provider of next-generation technologies for extracting, enriching, and quantifying nucleic acids from biological samples, closed a $26.4m Series B financing.
The round was led by Agilent Technologies with participation from new investor Cota Capital, and existing investors 5AM Ventures and Roche Venture Fund. As part of the investment round, Kevin Corcoran, Vice President and General Manager at Agilent Technologies, will join Purigen’s Board of Directors.
The company intends to use the funds to expand its scientific and commercial operations, accelerate the launch of its core isotachophoresis (ITP) sample preparation platform, and develop new features for future applications.
Led by Barney Saunders, PhD, CEO, Purigen Biosystems has developed proprietary technology (invented by Juan Santiago, PhD, and his team at Stanford University) that allows for the automated extraction of DNA and RNA with increased yields and improved purity from a wide range of sample types, including cultured or sorted cells, fresh or formalin-fixed paraffin-embedded (FFPE) tissues, liquid biopsies, and buccal swabs.