Navigation Links
Nabsys Secures $20 Million Series D Financing to Support Launch of Semiconductor-Based Single-Molecule Platform for Genomic Analysis
Date:3/12/2013

PROVIDENCE, R.I., March 13, 2013 /PRNewswire/ -- Nabsys, Inc., a life sciences company pioneering solid-state, single-molecule positional sequencing with broad applicability in DNA analysis, today announced that the company has closed a $20 million Series D financing to support the commercial launch of the company's positional sequencing system with initial applications in genome assembly and finishing and in analysis of structural variation in genomes. The financing was led by new investor Bay City Capital with participation from existing investors including Point Judith Capital and Stata Venture Partners.

"We're excited to have the opportunity to help bring Nabsys' technology platform to market," said William Gerber , M.D., investment partner with Bay City Capital.  "We're particularly enthusiastic about the near term clinical applications of structural variant analysis.  Structural variants are known to play a significant role in many forms of cancer as well as other diseases, and Nabsys is poised to offer a system that combines superior analytical performance with a simple and fully automated workflow."

Barrett Bready , M.D., president and chief executive officer of Nabsys, added, "We are delighted to welcome Bay City Capital, with its deep experience working with life sciences companies, to our existing investor group.  Nabsys is at an important transition point as we prepare for commercial launch. This Series D financing will enable us to build a commercial organization that will support launch. Also, because of the scalability of our single-molecule, solid-state, electrical detection technology, we will be able to significantly expand our initial assays and commercialize additional research and diagnostic applications."

Initial applications of the system will allow genomic researchers to correctly and quickly assemble the short DNA sequences that are generated by existing DNA sequencing technologies and to analyze structural variation in a high-throughput way. This is made possible by high-speed, high-resolution electronic measurement of DNA molecules that are much longer than those routinely analyzed by existing sequencing technologies. This same type of data will subsequently be used for a variety of clinical applications, including "electronic karyotyping."

About Nabsys
Nabsys is dedicated to enabling advances in life sciences and healthcare through strategic deployment of a novel positional sequencing platform with broad applicability for DNA analysis. The Nabsys platform uses solid-state nanodetectors to analyze single DNA molecules, revealing both location and identity of DNA sequences over long distances. The system is designed to set new standards for accuracy, speed and scalability, offering compelling advantages for the analysis of genome structural variation, genome mapping, and both targeted and whole genome sequencing. Nabsys was the first company to receive a "$1000 Genome" award from the National Human Genome Research Institute of the National Institutes of Health for an electronic approach to sequencing DNA. For more information about Nabsys, please visit www.Nabsys.com.

 

Company Contact:
Barrett Bready , M.D.
President, Chief Executive Officer and Director
Nabsys, Inc.
401-276-9100 Ext. 200
bready@nabsys.com

Media Contact:
Robert Flamm , Ph.D.
Russo Partners
212-845-4226
Robert.flamm@russopartnersllc.com


'/>"/>
SOURCE Nabsys, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Nabsys Expands Leadership Team to Prepare for Commercialization of Novel DNA Positional Sequencing Technology
2. Nabsys to Present DNA Sequence Data from Solid-State Nanodetectors at the Annual Advances in Genome Biology and Technology (AGBT) Meeting and the EMBL Omics and Personalized Health Conference
3. Modern Mobility Aids, Inc. Secures Financing to Close Acquisition Agreement of LumiGene Technologies
4. A New Type of Dendritic Cell-Based Cancer Vaccine has Received Approval for Clinical Tests and at the Same Time Secures Substantial Financing
5. Roka Bioscience Secures $47.5 Million in Series D Financing
6. Generex Secures Commitments for $3.6M Capital Raise
7. PharmAthene Secures $7.5 Million Credit Facility From GE Capital, Healthcare Financial Services
8. Insmed Secures $20 Million Loan Agreement With Hercules Technology Growth Capital
9. Bacterin Secures $25 Million Financing with OrbiMed
10. OncoSec Secures License for Electroporation Intellectual Property from University of South Florida
11. Aviir Diagnostic Laboratories Secures $8 Million In Funding From Silicon Valley Bank
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... 2016  Alex,s Lemonade Stand Foundation (ALSF), a leading ... open a state-of-the-art bioinformatics lab, using ,big data, to ... comes as Liz Scott , co-executive director of ... Summit in Washington, D.C. , hosted ... and advocate of pediatric cancer research and awareness. ...
(Date:6/27/2016)... CLEVELAND , June 27, 2016  Global ... average 4.6 percent through 2020 to $7.2 billion.  ... (food and beverages, cleaning products, biofuel production, animal ... and biotechnology, diagnostics, and biocatalysts). Food and beverages ... gains driven by increasing consumption of products containing ...
(Date:6/27/2016)... GUELPH, ON , June 27, 2016 /PRNewswire/ - BIOREM ... it has been advised by its major shareholders, Clean ... LP, United States based venture ... common shares of Biorem (on a fully diluted, as ... for the disposition of their entire equity holdings in ...
(Date:6/27/2016)... DIEGO , June 27, 2016  Sequenom, Inc. ... committed to enabling healthier lives through the development of ... Court of the United States ... courts that the claims of Sequenom,s U.S. Patent No. ... patent eligibility criteria established by the Supreme Court,s Mayo ...
Breaking Biology Technology:
(Date:6/27/2016)... DUBLIN , June 27, 2016 Research ... in North America 2016-2020" report to their offering. ... North America to grow at a CAGR ... has been prepared based on an in-depth market analysis with inputs ... growth prospects over the coming years. The report also includes a ...
(Date:6/22/2016)... BETHESDA, Md. , June 22, 2016  The American ... by Trade Show Executive Magazine as one of ... Summit on May 25-27 at the Bellagio in ... based on the highest percentage of growth in each of ... number of exhibiting companies and number of attendees. The 2015 ...
(Date:6/22/2016)... LOS ANGELES , June 22, 2016 ... of identity management and verification solutions, has ... cutting edge software solutions for Visitor Management, ... ® provides products that add functional ... The partnership provides corporations and venues with ...
Breaking Biology News(10 mins):