While it’s remarkable that we can actually sequence entire genomes today, the process remains relatively expensive.
Genapsys aims to change that with its Genius system-on-a-chip sequencing technology (above), which is significantly cheaper than the competition and offers dramatically faster turnaround times. The company revealed today it has raised $8.5 million of a $13.5 million round, according to an SEC filing.
Genapsys’ $3,000 device takes the place of equipment that can cost more than $500,000, according to Bizjournals.
The Redwood City, California-based company was founded by Dr. Hesaam Esfandyarpour in 2006 and comes out of Stanford’s StartX program. In September, the company also received a $4 million grant from the National Human Genome Research Institute as part of funds meant to improve gene sequencing technology.