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Microchip Biotechnologies Reels in $18.1M in Financing

NEW YORK (GenomeWeb News) – Microchip Biotechnologies, which has developed a sample prep system for Sanger and next-generation sequencing, has received $18.1 million in series B financing from previous and new investors.

New investors include Domain Associates, Samsung Ventures, Western Technology Investment, and undisclosed individual investors; and previous investors Rona Syndicates and In-Q-Tel.

MBI, based in Pleasanton, Calif., is producing sample-processing systems based on its Apollo fluidics platform, which is designed for use in DNA and RNA sequencing, DNA-based forensics, and human identity testing.

The firm’s first offering is the Apollo 100 System, which it said can reduce the time, investment, and expense involved in sample preparation for Sanger cycle sequencing.

The financing will go toward marketing the Apollo 100 and developing the Apollo platform for next-generation sequencing applications.