ReadCoor, a US-based gene sequencing technology developer backed by pharmaceutical firm Eli Lilly, has secured $27m in series B funding.
The cash was supplied by Singaporean government-owned investment vehicle Pavilion Capital, investment firm Decheng Capital and Hansjörg Wyss, founder of Harvard’s Wyss Institute for Biologically Inspired Engineering, in addition to unnamed existing backers.
Founded in 2016, ReadCoor supplies molecular sequencing products that apply fluorescence to mark out molecular targets before plotting them as coordinates on a 3D image of the sample.
The product, dubbed Fisseq, can sequence both RNA and DNA and is primarily pitched toward medical research in areas such as oncology, infectious disease and neuroscience.
Fisseq advances Harvard University and Wyss Institute research conducted in the laboratory of George Church, professor of genetics. ReadCoor will use the funding to further its commercialisation strategy.
Decheng Capital led a $23m series A round for the company in 2016, investing alongside Hansjörg Wyss and Lilly Ventures, a corporate venturing vehicle for Eli Lilly, in addition to healthcare investment firm Vivo Capital.
The original version of this article appeared on our sister site, Global University Venturing.