GenapSys Inc., Redwood City, CA-based electronic gene sequencer provider, completed a $90m Series C funding.
The round – which brought total funding to $166 to date – was led by Foresite Capital.
The company intends to use the funds to commercialize the sequencer, grow the team, and empower continued innovation.
Founded by Dr. Hesaam Esfanyarpour, GenapSys is the company behind direct electronic sequencing technology, whose system leverages a proprietary electrical microfluidic sequencing chip with a scalable number of detectors, allowing for applications ranging from targeted sequencing of specific amplicons to genome-scale sequencing data collection. The novel method – tested extensively across leading genomics labs across the nation – has applications in genomics discovery, biomedical research, healthcare, diagnostics, agriculture, and a variety of other fields.
The GenapSys Sequencer is currently available for order in the U.S. with global sales beginning in early 2020.
Along with this new funding round, the company is also announcing the appointment of veteran biotech advisors to its Board of Directors. The new board appointments include:
- Frank Witney, former CEO of Affymetrix and Dionex;
- Rakesh Sachdev, former CEO of Sigma Aldrich and Platform Specialty Products Corporation; and
- Hamid Moghadam, CEO and Chairman of Prologis.
These additions to the Board of Directors join GenapSys’ Scientific Advisory Board, which consists of pioneers of genetics research, including:
- Ron Davis, Director of the Stanford Genome Technology Center;
- George Church, Professor of Genetics at Harvard Medical School;
- Eric Topol, Director of the Scripps Translational Science Institute; and
- Michael Snyder, Director of the Stanford Center for Genomics and Personalized Medicine.