- Purigen Biosystems, a provider of next-generation technologies for extracting and quantifying nucleic acids from biological samples, announced it raised $26.4 million
Purigen Biosystems, a provider of next-generation technologies for extracting, enriching, and quantifying nucleic acids from biological samples, announced it raised $26.4 million in Series B funding. This round of funding was led by Agilent Technologies and it included participation from new investor Cota Capital along with existing investors 5AM Ventures and Roche Venture Fund.
“Agilent is continually looking to invest in complementary technologies that will underlie tomorrow’s breakthroughs in life sciences, diagnostics, and applied markets,” said Agilent Technologies VP and general manager Kevin Corcoran — who is joining the company board of directors. “We believe Purigen’s proprietary ITP platform offers key advantages and will help to significantly improve sample yields and their integrity.”
With this round of funding, Purigen is going to use the funding to expand its scientific and commercial operations, accelerate the launch of its core isotachophoresis (ITP) sample preparation platform, and support the development of new features for future applications.
“Cota Capital invests in world-class management teams that are building the businesses of the future,” added Cota Capital founder and managing partner Bobby Yazdani. “Purigen was a compelling investment due to its proven leadership team and disruptive technology platform, and we look forward to helping them position the company for long-term success.”
And Purigen’s proprietary technology allows for the automated extraction of DNA and RNA with drastically increased yields and improved purity from a wide range of sample types, including cultured or sorted cells, fresh or formalin-fixed paraffin-embedded (FFPE) tissues, liquid biopsies, and buccal swabs.
“Purigen is set to transform both the quality and yield of nucleic acids obtained from valuable clinical genomics samples for analysis by next-generation sequencing,” explained Purigen CEO Barney Saunders, Ph.D. “The new investments from Agilent and Cota are validation of Purigen’s opportunities in the sample preparation market. The support from our Board members will be invaluable as we begin the commercial rollout of our first ITP-based products and enable scientists to maximize the actionable information that can be extracted from their precious samples.”
And Purigen’s automated benchtop instrumentation and accompanying microfluidic chip purifies quantitates nucleic acid samples from a wide variety of sources, including minute or otherwise challenging cancer samples. The purified DNA or RNA is then compatible with a wide range of downstream detection methods, including next-generation sequencing, PCR, and other genomic tests. Purigen Biosystems’ platform for redefining nucleic acid sample preparation is based on the highly efficient isotachophoresis technology invented by Juan Santiago, PhD and his team at Stanford University.
