GnuBIO, a Cambridge, MA-based company developing next-generation desktop DNA sequencing technology, has completed a $10m Series B round of equity financing.
Backers are private investors which include existing shareholders.
The company intends to use the capital to commercialize its desktop DNA sequencing platform, hire additional staff in product development, molecular biology, informatics and software engineering. It plans to add sales and marketing hires over the next year as it prepares to launch its first product for targeted DNA sequencing.
Led by John Boyce, co-founder, president and CEO, GnuBIO has developed technology that will compartmentalize the entire DNA sequencing process, combining all of the steps required for sequencing in a single system, and providing the only fully integrated next-generation sequencing workflow.
Developed in the laboratory of David Weitz, Mallinckrodt Professor of Physics & Applied Physics at Harvard University, the company shipped an Early Access instrument to the Montreal Heart Institute in 2011 and will be delivering commercial systems in 2013.