GenapSys Raises $37 Million In Series B
GenapSys is a Next Generation Sequencing (NGS) systems company that has raised $37 million in funding to commercialize the GENIUS 110 System. The Series B round of funding includes existing investors Decheng Capital and IPV Capital with participation from new investors Yuri Milner, Stanford StartX Fund, and other private investors.
“We were extremely pleased with the high investor interest in our Series B round, and we are delighted to include such high caliber investors as shareholders. With this financing, we now have all the pieces in place to deliver on the commercial promise of the GENIUS system,” stated GenapSys CEO Dr. Hesaam Esfandyarpour.
GenapSys wants the GENIUS system to be able to produce an electronic system that can sequence a genome at a cost of only $50 with an accuracy of over 99.7%.