NEW YORK (GenomeWeb News) – Stratos Genomics today said that it has raised $2.1 million in a private financing from existing investors in the firm.
The privately-held Seattle-based firm is developing an ultra-low-cost nucleic acid sequencing technology for whole-genome analysis and molecular diagnostic applications. The firm, which is a spinoff of Stratos Group, has developed a single-molecule sequencing method called "sequencing by expansion."
The funds raised today are in addition to its August 2010 Series A round, which raised $4 million. Investors in that round included Stratos Group and Fisk Ventures.
"Our shareholders recognize that we are entering an exciting phase and don't want our validation pace interrupted by external fundraising activities," Stratos Genomics CEO Allan Stephan said in a statement.