NEW YORK (GenomeWeb) – Paragon Genomics said today it has closed an $8 million Series A financing round.

According to Paragon CEO Tao Chen, the company plans to use the funds to develop next-generation sequencing assays in the oncology and precision medicine space, and expand its US commercial team. He added that the firm's CleanPlex 2.5-hour multiplex PCR target-enrichment workflow for Illumina NGS platforms has been adopted by more than 50 NGS labs globally, and Paragon is looking to expand into Europe, Asia, and South America through partnership and distributorship deals.

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