BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

NABsys, Inc. Raises $10 Million for Continued Development and Commercialization of Solid-State Systems for Single-Molecule DNA Analysis


9/15/2011 6:39:14 AM

PROVIDENCE, R.I.--(BUSINESS WIRE)-- NABsys, Inc., developers of solid-state electronic systems for single-molecule DNA sequencing and analysis, has closed a $10 million venture capital round. This recent Series C Preferred Stock financing was led by Stata Venture Partners and brings the total of funds raised since April 2009 to over $21 million. This new financing will be used to support continued technology development and commercialization.

NABsys’ vision is to power DNA sequencing and analysis by using solid-state systems coupled with innovations in chemistry and algorithms to achieve unprecedented levels of accuracy, speed and cost. Moreover, they will reveal long-range DNA sequence information not accessible with current sequencing technologies. These solid-state systems are being designed to address a broad range of applications, from analysis of DNA structural variation, to sequencing of targeted genes, to whole-genome sequencing. The levels of performance being targeted will dramatically impact biological research in many fields, and for the first time provide the information content, accuracy, throughput and cost required for clinical applications of whole-genome sequencing.

“Continuing support from our investors has made it possible for us to build an exemplary team as we work toward our goal of developing a semiconductor-based system for single-molecule DNA sequencing and analysis,” commented Dr. Barrett Bready, CEO. “This system is designed to provide information not attainable from other DNA sequencing platforms, enabling an array of new research and clinical applications.”

About NABsys

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. Designed to offer scientists orders of magnitude improvements in accuracy, speed, cost and scalability of genome sequencing, the same platform enables other forms of DNA analysis, such as targeted gene sequencing and characterization of genome structural variation. NABsys was the first company to receive a “$1000 Genome” award from the National Human Genome Research Institute of the National Institutes of Health for an electronic approach to sequencing. For more information about NABsys, please visit www.NABsys.com.

NOTE: NABsys and the NABsys logo are registered trademarks owned or used by NABsys, Inc.

Contact:

NABsys, Inc.Barrett Bready, M.D., 401-276-9100bready@nabsys.com



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES