Genome Sequencing Company Genapsys Raises $8.5 Million

Posted Mar 23, 2013

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.