Life-science company Nabsys is up to some cool stuff. The company does genome sequencing using “solid-state nanodetectors,” and it’s just picked up a $20 million round of funding to continue its work.
The company uses the aforementioned nanodetectors to analyze single DNA molecules and find and identify DNA sequences over long distances. The platform is designed to be scalable, accurate, and fast when it comes to finding structural variations in genomes, mapping them out, and sequencing them.
Here’s a video clip showing a presentation of the company’s mission and technology from a Silicon Valley conference last year:
The $20 million is Nabsys’s fourth round of funding; it was led by Bay City Capital with participation from existing investors Point Judith Capital and Stata Venture Partners. To date, the company has raised $37 million.
Nabsys was founded in 2004 and is based in Providence, Rhode Island. Its technology has been recognized by the National Human Genome Research Institute of the National Institutes of Health.
“This Series D financing will enable us to build a commercial organization that will support launch,” said Nabsys CEO Dr. Barrett Bready in a statement on the news.
“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.”