NEW YORK (GenomeWeb) – Stratos Genomics said today that it has raised $20 million in venture capital from Fisk Ventures.
The company plans to use the funding to further develop its DNA sequencing system in preparation for commercialization.
Stratos said it recently made breakthroughs in its biochemistry development program that will enable its sequencing-by-expansion (SBX) technology to perform sequencing "at commercially compelling levels of read length, accuracy, process speed, and workflow efficiency."
In a statement, Stratos President and CEO Mark Kokoris added, "We are excited that our vision of introducing a transformative next-generation sequencing platform to the healthcare and research markets is approaching realization. Our recent development breakthroughs put us in a position to evaluate a number of strategic options and open discussions with partners who share our vision."
In 2015, Stratos completed a $30 million Series B financing round that included $15 million from Roche. Stratos received $5 million of this from Roche in 2014 as part of a two-year research collaboration.