PathoGenetix, a US-based biotechnology company which is developing of an automated system for rapid bacterial strain typing, has secured $10m in a series C financing from existing investors including Ascension Health Ventures, a subsidiary of hospital group Ascension Health, and venture capital investors Excel Venture Management and HealthCare Ventures.
The funding will be used to support continued efforts to commercialize its using proprietary Genome Sequence Scanning technology, expected to be commercially available in 2014 for use in food safety testing and foodborne illness outbreak investigations.
Previously in November 2011, PathoGenetix closed its series B funding round at $11.5m.
Ann Merrifield, chief executive officer of PathoGenetix, said: “This commitment from our investors reflects the outstanding progress we have made toward commercialization of the GSS technology.
Tara Butler, managing director at Ascension Health Ventures and PathoGenetix board member, said: “We are excited about the potential for the GSS technology in a range of industrial, research and clinical applications. PathoGenetix product development and research continue to demonstrate clear benefits for use in the food industry. We also believe the technology has significant potential in research and clinical applications such as microbiome analyses and genome mapping.”