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GnuBio Raises $10M in Private Financing

NEW YORK (GenomeWeb News) – GnuBio today said that it has completed a $10 million Series B round of financing with private investors.

The Cambridge, Mass.-based firm didn't disclose the names of the investors but said that the round included investors from its Series A round. GnuBio completed that $8 million Series A round a year ago, and it also declined to disclose the names of the investors at that time.

In a statement today, the firm said that it would use the funds to commercialize its desktop DNA sequencing platform and hire additional staff in product development, informatics, and software engineering. It also intends to hire sales and marketing staff within the next year as it prepares to launch its first product for targeted DNA sequencing.

The firm's platform integrates a workflow in a single desktop system and targets applications in ingectious diseases, oncology, and cardiovascular disease, among others. GnuBio shipped an early-access instrument to the Montreal Heart Institute last year and intends to begin delivering commercial systems next year.

"Our funding, along with the recent government grant funding of $4.5 million, will help us translate our platform microfluidic technology into products for targeted and whole genome sequencing," GnuBio President, CEO, and Co-founder John Boyce said.

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