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OpGen Raises $2.1M in Bridge Financing


OpGen has raised $2.1 million in a securities offering, the company disclosed in a filing with the US Securities and Exchange Commission last week.

The funding round, which had 27 participants, is a bridge financing that will be used to commercialize the Argus Optical Mapping System, the Gaithersburg, Md.-based company told In Sequence's sister publication GenomeWeb Daily News this week. According to the filing, the total size of the round is $2.3 million.

A couple of months ago, the company increased the amount of mapping data the Argus system can produce to 2.5 gigabases per day, making it more useful for the de novo assembly of large genomes. It is also working on a whole-chromosome de novo assembly application to screen for structural variations (IS 10/18/2011).

In a number of demonstration projects, the company has shown that its technology is useful to compare the genomes of different microbial strains, to assist and verify the assembly of microbes, and to help with the assemblies of human, plant, and animal genomes (IS 7/5/2011).

A year ago, OpGen raised $17 million in a Series B financing round, and added another $3 million as part of the same round earlier this year.

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