Genome Sequencing Company Genapsys Raises $8.5 Million
Genapsys is a company that works on applied genomic testing. The company is developing a cost-disruptive and easy-to-use genomic diagnostic system that is based on their label-free proprietary GENIUS technology.
The company’s system-on-a-chip sequencing technology is what attracted investors to put in $8.5 million as part of a $13.5 million planned round according to an SEC filing discovered by VentureBeat. Genapsys’ $3,000 device can replace equipment that generally costs around $500,000.
Based in Redwood City, California, Genapsys was founded by Dr. Hesaam Esfandyarpour in 2006. The company spun out of the Stanford’s StartX program. This past September, Genapsys received a $4 million grant from the National Human Genome Research Institute.