Changchun, China 7/22/16; Providence, RI 3/31/16—Chinese pharmaceutical company Jilin Zixin Pharmaceutical Industrial has signed an “investment framework agreement” to invest $6.0 million in Nabsys 2.0, according to a Google translation of the company’s website and a report in the Providence Journal. Nabsys 2.0 develops whole-genome mapping technology to electronically analyze very long DNA molecules with high resolution and velocity. The initial investment would be part of a total investment of $42 million that would give Jilin Zixin a 67% stake in the company. Nabsys shut down last fall (see IBO 9/15/15). But, in March, Nabsys 2.0 announced the completion of a financial restructuring following the purchase by Barrett Bready, MD, founder and former CEO, of the firm’s assets. The new company includes several members of the formal technical leadership team.

Nabsys’s long range mapping technology utilizes semiconductor-based nanodetectors and pools of oligonucleotide probes. Fragments up to 100,000 bp can be analyzed. According to the company, advantages of its technology compared to optical mapping techniques include faster speed and higher resolution. Applications include structural variation analysis.