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Microba Secures $2.8M Investment From Macrogen

This article has been updated to include a statement from Macrogen.

NEW YORK (GenomeWeb) — Australian biotech firm Microba said today that it has received an investment of A$4.1 million ($2.8 million) from partner Macrogen.

Earlier this year, the companies agreed to jointly develop microbiome research services for international markets including a shotgun metagenomic sequencing-based service and a library of high-resolution gut microbiome data that they will use to develop microbiome-based diagnostics and therapeutics.

Macrogen added in a statement that the partners will initially offer the microbiome database and service in Asia Pacific regions including Korea, Japan, and Singapore, and expect to globally launch the service in 2020.

"As a strategic partner and a major shareholder of Microba, Macrogen will actively participate to expand the business of two companies," Macrogen CEO Kap-Seok Yang said in a statement. "Through this agreement, we expect to generate new revenue in the microbiome market through a competitive service utilizing the [bioinformatics] pipeline of Microba and global network of Macrogen."

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