NEW YORK (GenomeWeb) – Genome BC said today that it is investing C$750,000 ($586,000) in Microbiome Insights (MBI), a Vancouver-based microbiome testing company.
MBI provides next-generation sequencing-based analytical testing and consulting services to microbiome researchers in academia and industry.
The new funding, combined with a recently closed equity financing round for an undisclosed amount, will be used to accelerate the company's sales and marketing activities, make new hires, build a new CLIA-certified lab facility, and develop and launch new services and personal health test products.
"The explosive growth in microbiome research — given its fundamental importance to human, animal, plant, and environmental health — has significantly outpaced existing capacity to provide microbiome testing, especially outside of academia. The building of this new industry is a unique market opportunity," MBI CEO Malcolm Kendall said in a statement.
Genome BC made the investment in MBI through its Industry Innovation, or I2 Fund, which provides commercialization support for companies developing life science technologies that address biological challenges in key economic sectors in BC including agriculture, energy and mining, environment, fisheries and aquaculture, forestry, and human health.