NEW YORK – RNA fragmentomics company RealSeq Biosciences announced on Thursday that it has raised $1.5 million in an oversubscribed seed financing round.
The round was co-led by Tech Coast Angels Los Angeles and Tech Coast Angels Orange County. Other investors include Chemical Angel Network, Angel Star Ventures, members of the Berkeley Angel Network, Virtual Angels Network, MEDA Angels, and TiE SoCal Angels.
The Santa Cruz, California-based company said it will use the funding to validate its molecular RiboMarker platform, further develop its laboratory-developed test to diagnose fungal disease Valley Fever, and expand its research and development and business operations, the . The firm is initially focusing on fungal diseases where early treatment is essential for patient outcomes, it added.
"This new funding provides critical support to our technology development and launch objectives over the next 24 months," RealSeq CEO Sergio Barberan-Soler said in a statement.
John Grant, a member of Tech Coast Angels Los Angeles, will join the RealSeq board of directors as part of the funding.
RealSeq develops technologies based on RNA fragmentomics, small RNA analysis, next-generation sequencing-based research tools, and biomarkers.