Nabsys closes expanded $38M equity round
Additional investment triggered by throughput-related milestone
PROVIDENCE, R.I. — Nabsys, the pioneer in electronic whole-genome mapping, announced today that it has received an additional $13 million from Hitachi High-Tech as part of an expanded equity round now totaling $38 million. The expanded equity investment was triggered as a result of a technical milestone achieved in relation to its High-Definition Genome Mapping Platform.
The milestone increases throughput by more than 10x. “This milestone is a significant advancement to throughput for the High-Definition Mapping Platform and enables complete mapping of whole human genomes at a commercially attractive price and turnaround time and superior resolution compared to current technologies”, said Barrett Bready, M.D., Nabsys founder and CEO.
Nabsys will offer this next generation High-Definition Genome Mapping Platform through an early access program in the first half of 2023.
“Hitachi High-Tech’s expanded investment into Nabsys further demonstrates our long-standing interest in providing a solution for the analysis of human genomic structural variation. We are excited to see this advancement in throughput and progress towards the commercialization of this valuable platform” said Tsuyoshi Ogino, general manager, Molecular Research & Diagnostic Division at Hitachi High-Tech America.
“Structural variants (SVs) account for the majority of genomic variation in the human genome and despite implications in disease research and diagnosis, SVs are largely ignored due to relatively high cost, high computational burden, and inadequate performance of current tools,” said Bready, “once commercial, users will be able to increase the frequency with which they analyze structural variation.”
Nabsys featured the newly updated whole genome mapping instrument last week at the American Society of Human Genetics annual meeting in Los Angeles, California.
The Nabsys mission is to advance the understanding of disease, increase diagnostic yield, and improve patient outcomes by enabling routine, accurate, cost-effective analysis of genomic structural variation. Located in Providence, RI, Nabsys employs a growing interdisciplinary group of dedicated scientists, engineers, and other professionals committed to the advancement of genomic analysis.
Hitachi High-Tech Corporation, a wholly-owned subsidiary of Hitachi Ltd., headquartered in Tokyo, Japan, is engaged in activities in a broad range of business fields, including manufacture and sales of analytical systems, electron microscopes, in vitro diagnostic systems, and semiconductor manufacturing equipment, and providing high value-added solutions in fields of social & industrial infrastructures and mobility, etc.