Navigation Links
Molecular Assemblies Raises $2.3 Million in Seed Round
Date:12/12/2016

SAN DIEGO, Dec. 12, 2016 /PRNewswire/ -- Molecular Assemblies Inc., a company developing a proprietary enzymatic DNA synthesis technology designed to power the next generation of DNA-based products, today announced that it has closed a $2.3 million oversubscribed seed round of financing. Investors include Agilent Technologies, Cavendish Impact Capital Fund, Eleven Two Capital, Keshif Ventures, Genomics Investment Syndicate, Newport Holdings, LP, and Alexandria Venture Investments.

"Completing this seed round of financing comes at a time of rapid growth for Molecular Assemblies and enables us to invest even more into expanding our team and advancing the development of our enzymatic DNA synthesis technology," said Michael J. Kamdar, president and CEO. "We are particularly pleased with the high caliber of investors we are attracting to the company, a testament to the growing need for a new approach to DNA synthesis and our unique ability to potentially meet these needs in multiple markets."

"New methods of writing genetic code are desperately needed if we are to realize the promise of the next generation of genomics - from industrial synthetic biology to personalized DNA-based therapies and diagnostics, and more," said Kirk Wright, co-manager of Cavendish Impact Capital Fund. "We are excited to invest in Molecular Assemblies and believe that its enzymatic approach to synthesizing DNA represents a dramatic change in how DNA will be made in the future and consequently our ability to accelerate new applications of genomics."

Molecular Assemblies was founded in early 2013 to develop a new enzymatic method of DNA synthesis inspired by the way nature makes DNA. Today's method of chemical DNA synthesis is incapable of producing high quality, gene-length DNA that is cost effective and scalable. It also relies on harsh chemicals that both damage the DNA and produce high volumes of toxic waste. Molecular Assemblies' enzymatic approach will produce long, high quality, sequence-specific DNA, reliably, affordably and sustainably, and overcome the limitations of traditional chemical DNA synthesis. The $2.3 million consists of cash and conversion of promissory notes with funds being utilized to advance its research and development efforts.

"The world is entering into the Genomics era in which technologies such as DNA sequencing, gene editing and synthetic biology are starting to provide us digital insight and understanding of life and disease. While this era brings limitless possibilities for enhancing human health, better approaches for optimizing new genomic technologies are a necessity. Molecular Assemblies is advancing the better quality we require. We are happy to support that effort," said Michael Heltzen, lead investor, Genomics Investment Syndicate III.

About Molecular AssembliesMolecular Assemblies Inc. is a San Diego-based company focused on developing an enzymatic DNA synthesis technology designed to power the next generation of DNA-based products. The company's patented enzymatic method, based on making DNA the way nature makes DNA, produces long, high quality, sequence-specific DNA reliably, affordably and sustainably. Molecular Assemblies' technology will enable the reading and writing of DNA for industries including industrial synthetic biology and precision medicine, as well as emerging applications of DNA for data information storage, nanomachines and bio-based electronics. For more information please visit http://www.molecularassemblies.com.

ContactsMolecular Assemblies

Media Michael Kamdar, CEO

Endpoint Communications(858) 733-1308

Susan Thomas (619) 540-9195susan@endpointcommunications.net

Logo - http://photos.prnewswire.com/prnh/20161019/430686LOGO

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/molecular-assemblies-raises-23-million-in-seed-round-300376238.html


'/>"/>
SOURCE Molecular Assemblies Inc.
Copyright©2016 PR Newswire.
All rights reserved


Related biology technology :

1. Blood-Based Molecular Testing For Pancreatic Cancer Patients
2. Cubresa SPECT Scanner Used for Evaluation of Alzheimer’s Disease Molecular Label in vivo
3. Inivata Highlights its InVisionTM ctDNA Assay for Broad Molecular Profiling and Presentation of NSCLC data at ASCO Annual Meeting 2016
4. Molecular Imaging of Colorado Joins Integrated Diagnostic Centers’ Denver Radiology Network
5. European Molecular Diagnostic Market for Group A Streptococcus (GAS) Nucleic Acid (NA) Test Products Projected to Reach US$ 22.3 Mn in 2023: TMR
6. Caris Life Sciences to Present Molecular Insights Informing Treatment Strategies at the 2016 Society of Gynecologic Oncology Annual Meeting
7. Biocept to Present at Molecular Medicine Tri-Con 2016
8. Atomic Force Microscope Leader Park Systems Presents SupramolecularChemistry Webinar as Part of a Nanotechnology Series
9. Europe Molecular Diagnostics Market to Reach US$4.2 bn by 2023, Adoption of Next Generation Sequencing Technologies Rapidly Rise: Transparency Market Research
10. BioGenex Completes Construction of a State-of-the-Art Center for Cancer Diagnostics and Molecular Pathology Innovation in Hyderabad, India
11. ZeptoMetrix™ (ZMC) to Release NATtrol™ Inactivated Zika Virus for the Development of Molecular Diagnostic Assays and Ongoing Clinical Laboratory Quality Control
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/16/2017)... ... 16, 2017 , ... Recent studies show that cancer cells ... specific cancers, such as breast, prostate, or lung, target vital pathways active in ... advanced prostate cancer. , This therapy limits the production and effectiveness of ...
(Date:8/16/2017)... 16, 2017  This year,s edition of the Inc. 5000 features a ... workforce solutions, has made the list for the third year in a ... fastest-growing private companies based on a set of quantitative metrics. In addition, ... fastest-growing companies in the Bay State . ... Inc. 5000 ...
(Date:8/15/2017)... CA (PRWEB) , ... August 15, 2017 , ... ... pioneering graphene biosensors that accelerate pharmaceutical and biotherapeutics development, announces the launch of ... number of steps needed to gain kinetic binding data for a wide range ...
(Date:8/15/2017)... ... August 15, 2017 , ... The Conference Forum and The ... through a series of upcoming panels and events. The partnership culminates with the ... Hotel in New York City. , “With our experience in producing the Immuno-Oncology 360° ...
Breaking Biology Technology:
(Date:3/29/2017)... the health IT company that operates the largest health ... today announced a Series B investment from BlueCross BlueShield ... investment and acquisition accelerates higi,s strategy to create the ... activities through the collection and workflow integration of ambient ... secures data today on behalf of over 36 million ...
(Date:3/24/2017)... -- Research and Markets has announced the addition of ... - Industry Forecast to 2025" report to their offering. ... The Global Biometric Vehicle ... around 15.1% over the next decade to reach approximately $1,580 million ... estimates and forecasts for all the given segments on global as ...
(Date:3/22/2017)... Optimove , provider of the ... as 1-800-Flowers and AdoreMe, today announced two new ... Using Optimove,s machine learning algorithms, these features allow ... recommendations to their customers based not just on ... intent drawn from a complex web of data ...
Breaking Biology News(10 mins):