Nov 14 2013, 7:02am CST | by PR.com
Redwood City, CA, November 14, 2013 --(PR.com)-- GenapSys™, Inc. (GenapSys), a provider of Next Generation Sequencing (NGS) systems, today announced it has raised $37M to commercialize the GENIUS™ 110 system (Gene Electronic Nano-Integrated Ultra-Sensitive), a fully integrated DNA Sequencing system for the rapidly evolving NGS market.
The Series B financing includes new investors Yuri Milner, Stanford StartX Fund, and numerous private and institutional investors with life sciences expertise, alongside existing investors Decheng Capital and IPV Capital.
Dr. Esfandypour, GenapSys Founder and CEO, made the following statement: “The power of genomics is vast and far reaching – in our lifetime we will see genomics feed the world’s population through optimizing crop yield, we’ll see genomics ensure enhanced security through accurate identification, and we’ll see genomics elevate our understanding and knowledge about the world in which we live. I believe the revolutionary genomic solution that we have been developing at GenapSys will generate a quantum leap forward to a better, more informed and healthier future. With this financing and the strong backing of our investors, we now have all the pieces in place to deliver on the commercial promise of the GENIUS System and realize a 100x improvement in cost and efficacy as compared to existing technologies on the market.
About GenapSys Inc.
GenapSys, headquartered in Redwood City, CA, is a venture backed privately-held company that has created, developed and is producing a market disrupting Genomic Testing system. GenapSys’s advisory board includes among others, Ron Davis, Director of Stanford Genome Technology Center, George Church, Professor of Genetics at Harvard Medical School, Eric Topol, Director of the Scripps Translational Science Institute, and Mike Snyder, Director of Stanford Center for Genomics and Personalized Medicine. The company’s first product, the GENIUS™ 110 System, will enable customers to replace an expensive and time-consuming sample preparation and sequencing bottleneck with a streamlined workflow for Next Generation Sequencing. Its patented GENIUS system integrates advanced fluidics and analytical capabilities to produce sample-to-answer performance for DNA and RNA sequencing, while dramatically reducing capital and operating expenses. For more information, visit www.GenapSys.com.
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