StartX Genome Device Maker Genapsys Raises $8.5 Million
3/25/2013 8:52:47 AM
Genapsys, a company that grew out of Stanford's StartX program, said on Friday it has raised about $8.5 million in a funding round in which it hopes to get about $13.5 million. The Redwood City company is led by founder Hesaam Esfandyarpour and says that its system-on-a-chip genetic sequencing technology can sequence an entire human genome in less than a day for about $30. Its $3,000 device replaces equipment that can cost more than $500,000. Genapsys got a grant of about $4 million last fall from the National Human Genome Research Institute (NHGRI), part of the National Institutes of Health.