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10x Genomics Closes $50M Financing Round, $75M Credit Facility

NEW YORK (GenomeWeb) – 10x Genomics announced today that it has closed a $50 million Series D financing round, as well as a new $75 million credit facility.

The Series D round was led by Meritech Capital Partners, and included new investor Wells Fargo and current investors Paladin Capital, Fidelity, and SoftBank Group. The credit facility is with Silicon Valley Bank.

10x said it will use the proceeds from the transactions for technology development, as well as to invest in strategic opportunities, improve its manufacturing capabilities, and expand its global footprint — including opening new offices in the Netherlands and Shanghai, China.

The Pleasanton, California-based firm makes the Chromium Controller platform, which incorporates linked-read technology for exome and genome sequencing and can also be used for various single-cell analysis applications. It recently previewed three new single-cell assays that it plans to launch this year for the Chromium, including single-cell CNV, single-cell ATAC-seq, and single-cell feature barcoding. 10x launched the single-cell CNV assay just two weeks ago.

Earlier this year, 10x disclosed that it generated $71 million in revenue in 2017, and said it has placed more than 600 of its Chromium instruments worldwide. It also recently announced a partnership with Berry Genomics for noninvasive prenatal testing in China and a deal with BGI subsidiary MGI to make its sequencers compatible with the Chromium system.

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