IDbyDNA Raises $20 Million in Series B Financing to Continue Advancements in Infectious Disease Diagnosis and Pathogen Identification
SAN FRANCISCO & SALT LAKE CITY--(BUSINESS WIRE)--Jan 29, 2020--
IDbyDNA, Inc., a metagenomics technology company setting the standard for detection, identification, and interpretation of microorganisms and their role in human health, today announced the raise of $20 million in its Series B financing led by ARTIS Ventures and joined by Genesys Capital and others.
A New Approach to a Global Crisis
“This funding will be used to fuel growth of our Explify Software Platform into the worldwide infectious disease and microbiome testing markets. Our existing partnerships, combined with newly signed contracts and collaborations with leading U.S. and global commercial labs, hospitals, and academic institutions, will advance customer adoption of Explify as the leading metagenomics technology platform,” said Guochun Liao, PhD, co-founder and CEO of IDbyDNA. “IDbyDNA will continue enhancing and expanding the Explify platform, which offers secure data privacy, highly curated and well-annotated databases, rapid metagenomic analysis, QA/QC applications, custom user interfaces, and automated report generation tools.”
Additionally, this latest financing round will also be used to support the opening of a CLIA-approved commercial laboratory at IDbyDNA’s Salt Lake City facility. Explify’s capabilities will benefit from this laboratory’s new, end-to-end clinical microbial profiling, syndromic testing and next-generation sequencing.
IDbyDNA creates and utilizes novel technologies that significantly improve the accuracy and speed of universal microorganism detection, with the potential to identify any microbe from any sample. The Explify platform identifies more than 50,000 microorganisms and over 3,000 known common and rare pathogens. In addition to broad pathogen detection, Explify also includes new features such as quantification and the ability to detect antimicrobial resistance (AMR).
“We believe IDbyDNA’s technology has hit a tipping point and is now set to revolutionize the way we respond to, and tackle, infectious disease outbreaks, and address the growing concerns of antimicrobial resistance,” said Stuart Peterson, partner at ARTIS Ventures. “Having led their previous Series A round, we have had a front row seat to the incredible insights that genomics and AI can deliver, and IDbyDNA’s approach to metagenomic testing presents a unique opportunity to improve pathogen identification and infectious disease diagnosis.”
IDbyDNA has developed a transformative metagenomics technology to simultaneously profile tens of thousands of microorganisms and pathogens in any sample. Working with our global partners, we are setting the standard for the identification and understanding of microorganisms and their role in human health. http://www.idbydna.com/
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA UTAH
INDUSTRY KEYWORD: HEALTH INFECTIOUS DISEASES TECHNOLOGY GENETICS SOFTWARE PHARMACEUTICAL BIOTECHNOLOGY
SOURCE: IDbyDNA, Inc.
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PUB: 01/29/2020 08:00 AM/DISC: 01/29/2020 08:00 AM