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Harvard Spinout ReadCoor Raises $27M in Series B Financing

NEW YORK – Spatial genomics startup ReadCoor announced Friday it has raised $27 million in Series B financing. 

Pavilion Capital joined as a new investor; the round also included previous investors Decheng Capital and Hansjörg Wyss. 

In a statement, the firm said it will use the proceeds to accelerate commercialization of its fluorescent in situ sequencing (FISSEQ) technology, which simultaneously captures molecular and spatial information within cells and tissues. 

"ReadCoor has made rapid progress in bringing multiomic spatial sequencing from development to the market," Victor Tong, partner at Decheng Capital and chairman of ReadCoor's board of directors, said in a statement. "The platform that ReadCoor has developed features a leading-edge technology to sequence and characterize tissue in 3D that offers the potential for new insights in clinical research and drug discovery."

ReadCoor, a spinout from George Church's lab at Harvard University's Wyss Institute for Biologically Inspired Engineering, has now raised more than $50 million. In 2016 it raised $23 million in Series A financing, led by Decheng Capital, and won a $2.5 million grant from the Bill and Melinda Gates Foundation to develop pathogen detection capabilities. In 2018, ReadCoor received a grant for an undisclosed amount from the Chan Zuckerberg Initiative to map cortical cells for the Human Cell Atlas.

The firm added that it would unveil its FISSEQ platform next month at the Advances in Genome Biology and Technology meeting.