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Epigenetics Sequencing Firm Cambridge Epigenetix Raises $5.5M

NEW YORK (GenomeWeb) – Epigenetics sequencing firm Cambridge Epigenetix today announced the completion of a Series A financing round that raised $5.5 million.

The company also announced the appointment of Fedja Bobanovic as its CEO.

New Science Ventures led the financing, and founding investors Syncona Partners and Cambridge Enterprise participated in the round. Bobanovic said that the funds will be used to continue exploring commercial applications for the firm's products, as well as for R&D.

The UK firm was founded in 2012 as a spinout from Shankar Balasubramanian's laboratory at the University of Cambridge and leverages an epigenetic sequencing technique called oxidative bisulfite sequencing, or ox-BS sequencing, a method for the quantitative, single-base resolution sequencing of 5-hydroxymethylcytosine and 5-methycytosine. In 2013, Cambridge Epigenetix launched the TrueMethyl kit.

Also, Bobanovic has joined the company from Danaher where he was a vice president and general manager for the Europe, Middle East, and Africa region at AB Sciex. Somu Subramanian, a founding partner at New Science Ventures, has also joined Cambridge Epigenetix's board.