Nabsys Raises $21 Million Equity Round Led by Hitachi High-Technologies

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Oct 02, 2019, 07:00 ET

PROVIDENCE, R.I., Oct. 2, 2019 /PRNewswire/ -- Nabsys, the pioneer in high-definition genome mapping, announced today that it has closed on a $21 million equity round led by Hitachi High-Technologies Corporation.

Nabsys will use the funding to finalize product development and support global commercial launch of their HD-Mapping™ whole-genome electronic mapping platform.

HD-Mapping has applications in a wide variety of key research applications, including de novo assembly, structural variant analysis, metagenome characterization, and strain identification, as well as in next-generation cytogenetics. Nabsys electronic mapping enables routine, scalable analysis of genomic structural variation.

Mr. Tsuyoshi Ogino, General Manager, Innovation Division at Hitachi High-Technologies said, "There is a strong need for accurate, robust, and scalable genomic structural analysis for cytogenetic, cancer, and infectious disease research. Hitachi High-Technologies determined that the Nabsys HD-Mapping approach effectively supports this need. The company is also a strong fit with our strategy for continued advanced R&D with strategic investments in life sciences."

"This investment round will help Nabsys fulfill its mission to make the analysis of large- and intermediate-scale genomic variation as routine, accurate, and cost-effective as the analysis of single-nucleotide variation," said Barrett Bready, M.D., Founder and CEO at Nabsys.

About Hitachi High-Technologies Corporation:
Hitachi High-Technologies Corporation, headquartered in Tokyo, Japan, is engaged in activities in a broad range of fields, including Analytical & Medical Solutions (manufacture and sales of clinical analyzers, biotechnology products, and analytical instruments), Nano-Technology Solutions (manufacture and sales of semiconductor manufacturing equipment and analysis equipment), and Industrial Solutions (providing high value-added solutions in fields of social & industrial infrastructures and mobility, etc.). The company's consolidated revenues for FY 2018 were approx. JPY 731.1 billion [USD 6.6 billion]. For further information, visit http://www.hitachi-hightech.com/global/

About Nabsys:
Nabsys is the leader in high-definition electronic genome mapping. Nabsys uses proprietary electronic nanochannel detectors to analyze long DNA molecules at high velocity. Nabsys HD-Mapping™ whole genome maps with sub-diffraction-limit resolution, provide compelling advantages for the analysis of genomic structural variation, genome assembly, and high-specificity strain identification. For further information, visit http://www.nabsys.com

Contact:

Nabsys
Brian Paras VP, Commercial Development
[email protected]

SOURCE Nabsys