NEW YORK (GenomeWeb News) – Next-generation sequencing and interpretation provider Personalis has closed a $22 million Series B financing round, the company said today, bringing total investments in the firm to more than $42 million.
Personalis plans to use the new funding to expand its product offerings, scale operations, and add new members to its commercial team.
Abingworth Management led the investment round. All of Personalis' Series A investors participated in the Series B round, including Lightspeed Venture Partners and Mohr Davidow Ventures. Wellington Shields was also a major investor.
Personalis offers sequencing and interpretation for whole genomes and exomes. Among its offerings are Accuracy and Content Enhanced, or ACE, genomes and exomes, which include additional target capture and sequencing to improve accuracy and increase coverage in medically interpretable regions.
The firm received its first order 13 months ago and since then has received more than "$14M in customer orders for the sequencing and analysis of over 7,000 human samples," CEO John West said in a statement. "We are now building sequencing and computational infrastructure to handle projects of over 10,000 samples."
Last month, Personalis established a subsidiary in the UK, and "with this financing, we expect to expand our commercial team further, including in Asia," West said.