SEATTLE, WA--(Marketwire - June 08, 2011) - Stratos Genomics Inc
. today announced $2.1 million of funding to continue development of its ultra-low-cost nucleic acid sequencing method for whole genome analysis and molecular diagnostics. The funds are provided by existing shareholders as an "up round" to August 2010's $4 million financing and under the same Series-A terms.
"We are fortunate to have great results and supportive investors," Stratos Genomics CEO, Allan Stephan, said. "Our shareholders recognize that we are entering an exciting phase and don't want our validation pace interrupted by external fundraising activities."
About Stratos Genomics Inc
Stratos Genomics' goal is to establish the next gold standard of DNA sequencing with its "Sequencing by Expansion™" (SBX™) method. SBX is a simple, elegant, single-molecule detection process that circumvents the limitations of competing technologies, allowing accurate, ultra-low-cost whole genome sequencing. Established in 2007, Stratos Genomics Inc. is a spin-off of Seattle-based Stratos Group LLC.
About Stratos Group LLC
Stratos Group is dedicated to the conversion of science and technology into commercial solutions for the advancement of mankind and the protection of the environment. Also under the Stratos Group umbrella is Stratos Product Development LLC. Stratos Product Development is a world leader in high tech product development services.