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Base4 Raises £5M in Private Financing

NEW YORK (GenomeWeb) – British biotech firm Base4 Innovation announced today that it has raised £5 million ($6.6 million) through an oversubscribed round of private financing.

The round was led by Longwall Ventures. Base4, which has raised £21.3 million since 2009, said it will use the proceeds to expand its team and lab space, as well as the continued development and automation of its single-molecule DNA sequencing technology.

The technology involves using pyrophosphorolysis to release nucleotides from single DNA molecules. Individual nucleotides are then captured into microdroplets that are made to produce their own characteristic fluorescent signal. It has been under development since at least 2014.