NEW YORK (GenomeWeb News) – Indian firm Ocimum Biosolutions today announced it has closed on an $8 million round, which it will use to enhance its Research as a Service platform.
The company, based in Hyderabad, said that investors came from multiple sources, including its founders and existing shareholders. It provides a wide array of services including GLP-compliant microarray services, genomic reference databases, life science laboratory management solutions, and research consumables.
Its RaaS platform allows for the complete outsourcing of genomics from storage of biological samples to DNA- and RNA-based services to biomarker validation. The company also said that part of the financing will go toward completion of a 360,000-square-foot facility, which will house Ocimum's GLP-compliant, genomic, and diagnostics laboratories.
Ocimum added that it intends to expand its offerings to cover the entire drug discovery market and will add new offerings to support clinical trial support services, biomarker discovery, and biobanking.