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Roswell Biotechnologies Raises $32M in Series A Round

NEW YORK (GenomeWeb) – Roswell Biotechnologies said today that it has raised $32 million from several undisclosed investors in a Series A financing round.

The San Diego-based company plans to use the funding to support the development of its molecular electronics-based DNA sequencing technology, including sensors, chips, instruments, and applications.

Roswell's technology uses standard CMOS chips and nanoscale molecular electronic sensors. It measures changes in current that occur when a polymerase that is part of an integrated circuit adds nucleotides to DNA. The firm's plan is to be able to generate a clinical-grade genome within one hour for $100.

The company was founded in 2014 by Paul Mola, the firm's CEO and president, and Barry Merriman, its CSO, who both helped to develop and commercialize other sequencing technologies.

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