NEW YORK (GenomeWeb News) – Infectious disease technology firm GeneWeave Biosciences announced it has raised $12 million in a Series A financing round.
Decheng Capital led the round, joined by existing investors Claremont Creek Ventures and X/Seed Capital. The funds will be used to complete the development, validation, and clearance of the initial test for a platform being developed for detecting infectious diseases, the company said.
Steve Tablak, GeneWeave's CEO, said in a statement that the platform called GeneScout will deliver "an unprecedented combination of simplicity and performance to hospital laboratories seeking to replace traditional microbiology with better performing molecular diagnostics."
The San Jose, Calif.-based company also said that Min Cui, managing director at Decheng is joining its board.