NEW YORK – Cambridge Epigenetix said on Tuesday that it has raised $88 million in a Series D financing round.
Singapore's Temasek led the round, joined by new investors, including Third Point, and existing investors, including GV, New Science Ventures, Ahren Innovation Capital, and Sequoia.
The Cambridge, UK-based company said it would use the proceeds to commercialize its methylation sequencing technology. The firm's product detects methylated cytosine as well as the four DNA bases. The firm said it expects to begin selling kits and software in early 2022.
"Our sequencing technology works with all sequencers and enhances their accuracy as opposed to replacing or competing with them," Shankar Balasubramanian, founder of Cambridge Epigenetix, said in a statement. "Further, our technology has the potential to dramatically reduce the cost of genome sequencing, as the low sample requirement and streamlined workflow facilitate its cost-effectiveness and ease of use without sacrificing accuracy."
The round brings the total amount of fundraising for Cambridge Epigenetix to around $146 million. The firm raised $21 million in 2016.
The firm added that it is working on a "six-letter" kit.