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Sequencing Technology Developer Omniome Raises $60M in Series B

NEW YORK (GenomeWeb) – Omniome, which his developing a new DNA sequencing technology, has raised $60 million in a Series B financing round, the company said today.

The round was led by Decheng Capital and Hillhouse Capital. They were joined by new investors Lam Research Capital and Nan Fung Life Sciences and by current investors ARCH Venture Partners, Domain Associates, Biomatics Capital Partners, and Altitude Life Science Ventures.

The San Diego-based company is developing a new sequencing platform that relies on so-called Sequencing By Binding technology and promises to provide highly accurate and fast results at low cost.

Omniome plans to use the proceeds in part to hire staff in several areas, particularly engineering, and to increase its research and production capacity.  It will continue to optimize its technology and accelerate prototype development.

Dave Mullarkey, the company's president and CEO, said in a statement that Omniome has validated its sequencing biochemistry. "Now we are directing our efforts on product development to rapidly advance our first commercial instrument prototypes." He is the former president and chief operating officer of Ariosa Diagnostics.