The firm will use the undisclosed amount to optimize the protocols for its genomic-selection application and to start building a sales and marketing force that "will become more visible in the second half of this year," CEO Fred Dom said.
According to unaudited, pro forma data, Panomics would have added $10.7 million to Affy's total revenues for the nine months ended Sept. 30, 2008, and $11 million to the company's top line in fiscal year 2007.
The company claims that compared to other targeted sequence-enrichment methods, its approach leads to more uniform coverage, or less enrichment bias. RainDance said it plans to offer up to 4,000 amplifications in a single tube later this year.
Both companies are offering users of second-generation sequencing systems new tools to select portions of the genome for targeted resequencing but have optimized their products for different sequencing platforms.