Navigation Links
Providence-Based NABsys, Inc., Announces $4 Million Equity Financing
Date:5/5/2009

PROVIDENCE, R.I., May 5 /PRNewswire/ -- NABsys, Inc., the pioneer in electronic, solid-state DNA sequencing, announced today that it has closed a $4 million equity round led by Point Judith Capital. Slater Technology Fund and other previous investors also participated in the round. The proceeds will be used to further develop NABsys' proprietary DNA sequencing platform.

"The NABsys approach combines the advantages of electronic detection, solid-state fabrication, and the ability to directly obtain long-range sequence information," said Point Judith Capital General Partner Gina Raimondo. "We believe this will be a game-changing technology in the field of genomics." Dr. Raimondo will be joining the NABsys Board of Directors.

Historically, DNA sequencing technologies have used optical detection, have depended on enzymes known as polymerases, and have not been compatible with solid-state fabrication technology. As a result, whole-genome DNA sequencing has remained far too expensive, slow, and inaccurate to be used in clinical care. NABsys' electronic, solid-state approach overcomes these limitations.

"The technological advantages that the NABsys platform enjoys, namely electronic detection, the use of all solid-state materials, lack of dependence on a polymerase, inherent error checking, and long-range sequence information, will allow the technology to offer clinically relevant cost, speed, and accuracy parameters for whole-genome sequencing," said NABsys President and CEO Barrett Bready, M.D.

Based on technology developed at and licensed from Brown University, the NABsys DNA sequencing platform combines physical and biochemical methods. It detects electronically the positions of hybridized DNA probes and then uses highly developed algorithms to accurately reconstruct the DNA sequence.

About NABsys, Inc.

NABsys is a life sciences company working at the intersection of physics, biology, and computer science to develop its proprietary electronic, solid-state DNA sequencing platform. NABsys is one of five companies to receive a "$1000 Genome" award from the National Human Genome Research Institute of the National Institutes of Health. For more information, please visit www.nabsys.com

About Point Judith Capital

Point Judith Capital is a leading early-stage venture capital firm partnering with outstanding entrepreneurs building world class healthcare, internet, and technology companies. Point Judith Capital has a strategic partnership with Tudor Investment Corporation, a premier, global alternative asset management firm.


'/>"/>
SOURCE NABsys, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. BSP Pharma Inc., Makers of FlexNow(TM) Joint Formula Sign Distribution Deal with Vitamin Shoppe and GNC
2. The PLSG Invests $150,000 in Coventina Healthcare Enterprises, Inc., Its Eighth Company Relocation to Pittsburgh
3. Corium International, Inc., Announces $40 Million Financing led by Essex Woodlands Health Ventures
4. Respironics Acquires Apollo Light Systems, Inc., Expands into Circadian Rhythm Device-Based Therapy Market
5. Sonexa Therapeutics, Inc., Raises $30 Million in Series A Financing to Focus on Alzheimers Treatments
6. LS9, Inc., the Renewable Petroleum Company(TM), Adds Key Positions to Executive Team and Scientific Advisory Board
7. IBF Conferences Inc., (International Business Forum) and BioEnterprise Present the 2nd Annual Global Healthcare Investing Conference
8. M. Scott Harris, M.D., Joins Ocera Therapeutics, Inc., as Chief Medical Officer
9. Elsevier Acquires Windhover Information Inc., a Healthcare Business Intelligence Company
10. Sangui BioTech International, Inc., Reports Sales Increase, Continued Losses
11. Solei Systems, Inc., Announces That the Company Is Now Publicly Traded
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/6/2016)... Mount Laurel, NJ (PRWEB) , ... December 06, ... ... a white paper on December 1, 2016 asking the Federal Drug Administration (FDA) ... to the study of OA, OARSI is concerned about the growing population of ...
(Date:12/6/2016)... (PRWEB) , ... December 06, ... ... a Great Point Partners ("GPP") portfolio company, today announced it has acquired ... previously a subsidiary of Chiltern International and focuses on clinical trial drug ...
(Date:12/6/2016)... 2016  SRI International has been awarded a ... National Institutes of Health,s National Institute of Allergy ... (NIAID-DAIDS) to support the manufacturing and characterization of ... Under the seven-year contract, SRI will provide a ... candidate HIV-prevention products that emerge from investigator-initiated studies ...
(Date:12/5/2016)... , Dec. 5, 2016 Axovant Sciences Ltd. ... company focused on the treatment of dementia, today announced ... the treatment of Alzheimer,s disease will be presented at ... on Friday, December 9, 2016 in San ... results of both simple and complex measures of activities ...
Breaking Biology Technology:
(Date:11/24/2016)... Calif. , Nov. 23, 2016 Cercacor ... endurance athletes and their trainers non-invasively measure ... Index, Pulse Rate, and Respiration Rate in approximately 30 ... enables users easy and immediate access to key data ... part of a training regimen. Hemoglobin ...
(Date:11/22/2016)... Minn. , Nov. 22, 2016   MedNet ... supports the entire spectrum of clinical research, is pleased ... Medical LiveWire Healthcare and Life Sciences Awards ... award caps off an unprecedented year of recognition and ... trials for over 15 years. iMedNet ...
(Date:11/19/2016)... 18, 2016 Securus Technologies, a leading provider ... safety, investigation, corrections and monitoring, announced today that it ... to have an independent technology judge determine who has ... high tech/sophisticated telephone calling platform, and the best customer ... do most of what we do – which clearly ...
Breaking Biology News(10 mins):