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Genapsys raises $37M to commercialize DNA sequencer
2013-11-22

Genapsys said on Thursday it has raised $37 million to help commercialize a DNA sequencing system it has developed.

The Redwood City company led by Dr. Hesaam Esfandyarpour said the Series B funding includes existing investors Decheng Capital and IPV Capital, with participation from new investors including Yuri Milner and Stanford StartX Fund.

"With this financing and strong backing of our investors, we now have all the pieces in place to deliver on the commercial promise of the Genius System and realize a 100x improvement in cost and efficacy as compared to existing technologies on the market," Esfandypour said in a prepared statement.

The company's goal is to produce a system that can sequence a genome at a cost of about $50 with an accuracy of more than 99.7 percent

Click here to read the press release about Genapsys' funding.

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