Alithea Genomics, a leader in large-scale RNA sequencing and transcriptomics, announced the closing of a CHF 2.8 million ($3.2 million) extension to its seed funding. The Novalis Biotech Acceleration fund led the round, which also included new investor TechU Ventures alongside existing investors.
The funding proceeds will be used to continue commercializing and expanding the manufacturing capacity of its unique RNA sequencing products, advance the development of new technologies, and establish a subsidiary in the United States.
What does Alithea do? Alithea commercializes multiplexed library preparation solutions for RNA sequencing, most notably BRB-seq and DRUG-seq. These technologies enable the preparation of hundreds of RNA samples for sequencing in a single tube. and without the need for RNA insolation in the case of DRUG-seq. The traditional preparation of samples for RNA sequencing is costly and takes a lot of time, due to the substantial amounts of reagents and manual operations that are usually required. Alithea’s BRB-seq technology noticeably decreases the cost and time associated with RNA sequencing preparation.
Since the initial seed funding, Alithea Genomics has made significant progress in growing its product portfolio, especially with the addition of DRUG-seq. Several big pharmaceutical companies are now using this to improve drug development processes.
Alithea has also expanded its overall production and service capacity, which now allows for tens of thousands of RNA samples to be processed quickly and with high quality. And Alithea also moved to its new HQ in Lausanne, Switzerland, with dedicated sophisticated labs and equipment.
KEY QUOTES:
“Since our initial seed investment, the Alithea team has delivered on all its milestones and exceeded our expectations in the progress being made. In two short years, we have seen the market for Alithea’s ultra-high throughput RNA sequencing products expand and grow into multiple areas. This injection of capital and opening of the US subsidiary will enable this progress to continue.”
- Jan Van den Berghe, co-founder and managing director of Novalis Biotech
“With the growing expansion of life science research, we see huge potential for applications of Alithea’s RNA sequencing technologies and BRB-seq products on an industrial scale. This revolution in RNA sequencing means scientists will be able to conduct research in a more rapid and affordable manner, leading to expedited discovery of new therapeutic drugs in the field.”
- Natanel Barookhian, Managing Partner of TechU Ventures
“With the additional proceeds from this seed extension, we will be able to continue to expand and grow. As a company, we have made significant progress in a short period of time, but we are far from finished, so I’d like to thank Novalis Biotech and existing investors for the continued support, and welcome TechU Ventures, who bring to the table a different perspective, particularly as we expand into the US.”
- Riccardo Dainese, CEO and co-founder of Alithea Genomics
