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 sequ
|SOURCE Nabsys, Inc.|
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