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Stratos Genomics Announces Series-A Financing of $4 Million for Continued Development of SBX(TM) Ultra-low-cost Genome Sequencing Technology


9/7/2010 11:40:39 AM

SEATTLE, Sept. 7 /PRNewswire/ -- Stratos Genomics Inc. today announced it has closed a Series-A financing deal of $4 million to continue development of its ultra-low-cost nucleic acid sequencing method for whole genome analysis and molecular diagnostics. The round was led by Fisk Ventures and included Stratos Group LLC.

"In the midst of the current, highly-charged genomic sequencing market, this investment in Stratos Genomics is an important statement. It indicates not only the validity of the technology but confidence in our future success," Stratos Genomics CEO, Allan Stephan, said. "We are pleased to have the support of Fisk Ventures as we continue developing technology that will play an important role in the future of medicine and genomic sciences."

"The Stratos Genomics technology has the potential to revolutionize personalized medicine and bring genome sequencing technology to all. If our goals are realized, Stratos Genomics will have a huge impact on life sciences," Stephen Rose, Managing Director of Fisk Ventures, said.

About Stratos Genomics Inc.

Stratos Genomics' mission is to establish the next gold standard of DNA sequencing with its flagship '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. The company is composed of an accomplished team of scientists, engineers, advisors and directors. It was founded by Stratos Group and Stratos Genomics' officers: CEO Allan Stephan, CSO Mark Kokoris and CTO Bob McRuer, PhD. Stephen Rose, Managing Director of Fisk Ventures, joins Stephan, Kokoris, McRuer, Harold Kawaguchi, Lee Huntsman, PhD and Heiner Dreismann, PhD on the board of directors. Stratos Genomics' science advisory board includes Lawrence Loeb, MD/PhD; Robert Franza, MD; Andre Marziali, PhD; Eugene Kolker, PhD; Patrick Stayton, PhD; Jay Shendure, PhD and Buddy Ratner, PhD. www.stratosgenomics.com

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. www.stratos.com

CONTACT:

Rebecca Dawson

Stratos Genomics Inc.

1-206-448-1388

rdawson@stratos.com



SOURCE Stratos Genomics Inc.



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