NEW YORK – Swiss RNA analysis company Alithea Genomics said Thursday that it has closed a CHF 2.8 million ($3.2 million) extension to its seed financing.
Novalis Biotech led the round with additional contribution from new investor TechU Ventures and existing investors.
Alithea said it will use the proceeds to expand its manufacturing capacity for RNA sequencing products, develop new technologies, and establish a US subsidiary.
A Swiss Federal Institute of Technology Lausanne (EPFL) spinout, Alithea is commercializing a proprietary bulk RNA barcoding and sequencing (BRB-seq) technology that was first developed by company Chief Technology Officer and Cofounder Daniel Alpern.
Since raising CHF 1 million in initial seed funding in 2022, Alithea said it has made "significant progress" in expanding its product portfolio, including the addition of Drug-seq, which is now used by several pharmaceutical companies for drug development.
Additionally, Alithea said it has expanded its overall production and service capacity, which allows the company to process tens of thousands of RNA samples "quickly and with high quality."
The company has also moved its headquarters to Lausanne.