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GenapSys Raises up to $75M in Debt Funding, Signs on More Than 25 Distributors

NEW YORK – Sequencing technology company GenapSys said on Thursday that it has raised up to $75 million in debt funding from Oxford Financing and has signed deals with more than 25 distributors worldwide.

The debt funding will go toward the company's commercialization activities as it is launching its sequencing platform globally.

Specifically, GenapSys said it is releasing it sequencer in the Asia-Pacific (APAC) region, including in China, Korea, Singapore, and Japan. Among the firm's distributors are Research Instruments of Singapore, Biomedical Systems of Korea, and Gene Company of Hong Kong.

GenapSys, based in Redwood City, California, also said it is seeking to partner with local health agencies and researchers to use its sequencing platform to study the new coronavirus that is currently spreading in China and beyond.

Last November, the company launched its lunchbox-sized electronic sequencer, which uses microfluidic CMOS chips and has a list price of $10,000.