GenapSys pockets $75 mn

Redwood City, California-based GenapSys Inc, a provider of a gene sequencer in the Asia Pacific region, has raised $75 million in funding.

Redwood City, California-based GenapSys Inc, a provider of a gene sequencer in the Asia Pacific region, has raised $75 million in funding. The investors were not named.

PRESS RELEASE

Redwood City, Calif. (Feb 6, 2020) GenapSys Inc. announced today the launch of its gene sequencer in the Asia Pacific (APAC) region, including in Korea, Singapore, Japan, and the fast-growing Chinese gene sequencing market, which is currently at the epicenter of the expanding Coronavirus outbreak. The company is expanding internationally with more than 25 distributorship deals signed and is also announcing up to $75 million in financing to help scale its global presence.

Using Sequencing to Better Understand the Coronavirus
Currently, the Coronavirus is spreading at an increasing rate through China and parts of Asia as researchers are racing to find out more about the genetic sequence behind the highly-contagious disease. Scientists are using gene sequencing to study the strains and gene mutations found in infected individuals in hopes of understanding the origin of the outbreak and finding containment solutions for the disease.

In parallel with its rollout in the APAC region, GenapSys is actively looking to partner with local health agencies and researchers to arm researchers with access to the insight afforded by sequencing. With its highly-accurate, portable, and affordable sequencing technology, the company aims to help support the control and limit the spread of current and future outbreaks.

100x smaller and less expensive than legacy high-throughput sequencers, the GenapSys sequencer is uniquely positioned for this kind of crisis response. The device can run off of a standard power source and is small enough to fit in the back of a truck or be deployed at hospitals, airports, and public transportation hubs for quick results on virus samples.

“During an outbreak like what we’re seeing with the Coronavirus, researchers and health officials need to access genetic insights as quickly as possible,” said early GenapSys customer, Dr. Shi Yongyong, a professor at Shanghai Jiao Tong University and research collaborator at the Mayo Clinic. “By creating a sequencer this accurate and affordable, GenapSys will help enable thousands of researchers and laboratories to own a sequencer and help enhance the medical community’s understanding of this current outbreak as well as other diseases that include cancer and beyond.”

“As a healthcare company, GenapSys is willing to contribute in any way we can to help save lives by enabling effective cancer treatments, better pandemic response and beyond,” said GenapSys Founder and CEO Dr. Hesaam Esfanyarpour. “We encourage health agencies, researchers, assay providers and diagnostic content developers to contact us as soon as possible to discuss ways we can work together to combat this fast-growing outbreak.”

Cancer and Beyond
GenapSys’ $75 million financing deal from Oxford Finance will help scale the company’s global presence and access the region’s vast healthcare markets. While the company’s most immediate priority is to help researchers and clinicians get access to highly accurate yet affordable sequencing at the point closest to the patient to combat cancer or pandemic outbreaks such as the current Coronavirus, the benefits of GenapSys small but powerful sequencer extend far beyond infectious diseases to applications in cancer research, food science, personalized medicine, forensics, and other key scientific and medical fields. With distribution partnerships across the Asia-Pacific region, including with Research Instruments of Singapore, Biomedical Systems of Korea, and Hong-Kong based Gene Company, GenapSys is meeting the great need for high-accuracy and low-cost sequencing in major genomics markets.

“The demand for innovative and impactful technologies has required Research Instruments to bring new products to our customers,” said Gregor Kent of Singapore-based distributor, Research Instruments. “The GenapSys sequencer is revolutionary in this field, offering a level of accessibility never before possible, all without compromising accuracy. We look forward to offering this unique technology to our customers.”

For more information on GenapSys, please visit genapsys.com. Public health agencies or infection disease researchers in the APAC region can reach out at sales@genapsys.com for information regarding partnership or expedited sequencer sales.

About GenapSys Inc.
GenapSys is the company behind the world’s first highly accurate direct electronic sequencing technology. Its system leverages a proprietary electrical microfluidic sequencing chip with a scalable number of detectors, allowing for applications ranging from targeted sequencing of specific amplicons to genome-scale sequencing data collection. The proprietary semiconductor chip-based detection modality allows the system to be compact, scalable, and affordable, empowering the democratization of access to Next-Generation Sequencing, and bringing the power of high quality genomics in hands of every researcher or clinician.

Founded by Dr. Hesaam Esfanyarpour, GenapSys’ novel sequencing method is revolutionizing genomics discovery, biomedical research, healthcare, diagnostics, agriculture, and a variety of other fields. GenapSys is headquartered in Redwood City, CA. For more information, visit www.GenapSys.com.