This story was originally published on February 17, 2010.
Nabsys has raised $7 million from a Series B equity financing round, the company said today.
The Providence, RI-based company will use the funding to accelerate the development and commercialization of its nanopore-based DNA sequencing platform.
The startup company, which resulted from the merger of two Brown University spinouts in late 2006 (see In Sequence 1/9/2007), is working on a sequencing platform that combines sequencing-by-hybridization with solid-state electrically-addressable nanopore arrays.
Stata Venture Partners led the Series B round, in which existing investor Point Judith Capital participated as well. The funding follows almost a year after Nabsys closed a $4 million Series A equity round (see In Sequence 5/5/2009).