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BioNanomatrix Lands $5.1M in Venture Financing

NEW YORK (GenomeWeb News) – DNA analysis firm BioNanomatrix has secured $5.1 million in series A venture financing, lead investor Battelle Ventures said today.
 
BioNanomatrix is developing nanoscale single-molecule imaging and analytic platforms with applications in genome analysis and clinical diagnostics. 
 
The funding round included an investment from Battelle’s affiliate Innovation Valley Partners, and from KT Venture Group. Ben Franklin Technology Partners and 21 Ventures also participated in the round through debt conversion agreements.
 
Battelle said that biotechnology executive Edward Erickson and Battelle partner Tracy Warren have joined BioNanomatrix’ board of directors.
 
Warren said that the BioNanomatrix technology, which is based on nanochips that are compatible with off-the-shelf optics, can be used to “significantly reduce the time, complexity and cost dynamics of sequencing the genome and carrying out genetic analyses.”
 
In September, BioNanomatrix and partner Complete Genomics were awarded an $8.8 million grant from the US National Institute of Standards and Technology to develop a high-throughput sequencing technology that they said will be able to sequence a human genome in eight hours for less than $100.

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