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:2/21/2017)... -- Lexus, a returning partner of the Amgen Tour of California ... partner of the men,s and women,s events for the next five ... Tour of California will mark the start ... professional cycling teams in the world racing from Northern to ... Breakaway from Heart Disease TM Women,s Race empowered with ...
(Date:2/21/2017)... Research and Markets has announced the addition of the ... Forecast to 2025" report to their offering. ... The Global Bioplastics & Biopolymers ... over the next decade to reach approximately $8.9 billion by 2025. ... forecasts for all the given segments on global as well as ...
(Date:2/20/2017)... , Feb. 20, 2017 This report analyzes ... the following Product Types: Xylanase, Amylase, Cellulase, and Others. The ... Canada , Japan , ... Latin America , and Rest of World. ... Annual estimates and forecasts are provided for the period 2015 ...
(Date:2/20/2017)... ... February 20, 2017 , ... ... prevent chest wall collapses in pre-term infants with respiratory distress, and assist ... of $600,000 in funding through the ninth round of the University City ...
Breaking Biology Technology:
(Date:1/24/2017)... -- It sounds simple and harmless—an electronic sensor attached ... and alerts parents on their smart phones if, ... But pediatric experts argue that such devices may ... of medical benefits, especially to healthy babies. ... of healthy babies, promising peace of mind about ...
(Date:1/21/2017)... Research and Markets has announced the addition ... to their offering. ... The global voice recognition biometrics market to grow at a ... report covers the present scenario and the growth prospects of the ... size, the report considers the revenue generated from the sales of ...
(Date:1/19/2017)... SANTA CLARA, Calif. , Jan. 19, 2017 ... Valley company enhancing user experience and security for ... provider of next-generation payment processing systems and cybersecurity ... assist more banks, enterprises and financial institutions worldwide ... As part of the end-to-end secure user authentication ...
Breaking Biology News(10 mins):