Pleasanton, CA 4/26/18—Genomics technology firm 10x Genomics has announced $175 million in new funding, consisting of a $50 million Series D financing and a $75 million debt facility. Earlier this year, the company disclosed annual revenues of more than $100 million, with year-over-year growth of 150%. The installed base of its Chromium System currently totals 600. “We are thrilled to partner with Meritech, Wells Fargo and our other investors to drive the next phase of our growth,” commented Serge Saxonov, 10x Genomics CEO and cofounder. The new funding will go in part to new manufacturing capabilities as well as new office openings in Leiden, the Netherlands and Shanghai, China.

10x Genomics’s linked-read technology enables long-range (defined as > 50 kb) NGS data using short-read sequencing systems, such as Illumina’s, using barcodes. Advantages include detection of structural variants and haplotype analysis. Applications include genome and exome phasing, single-cell gene expression (see AACR 2018: From NGS to Single-cell Genomics and Beyond) and de novo assembly. The company launched its first product in mid-2015.