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GenapSys Raises $70M in Series D Financing

NEW YORK – Sequencing technology developer GenapSys said on Thursday that it has raised $70 million in Series D equity financing. The firm is also expanding its board of directors.

Farallon Capital Management and Soleus Capital led the round, joined by additional new investors who were not disclosed.

In a statement, GenapSys said it will use the proceed to further develop its semiconductor-based next-generation sequencing platform. CEO Jason Myers added that the firm would accelerate development of new products, particularly in oncology.

The Redwood City, California-based firm has now raised at least $236 million since 2013, plus $75 million in debt funding last year. The firm offers its benchtop GenapSys Sequencer and a library preparation instrument.

GenapSys is adding Bob Zollars, senior adviser at Frazier Healthcare Partners, and a representative of Farallon Capital to its board. Zollars was previously group president at Cardinal Health. He is also chair of the trustees of Arizona State University.