BioNano Genomics Completes $53M Series C Financing
Summary
The round was co-led by Legend Capital and Novartis Venture Fund with participation from new investors Federated Kaufmann Fund and Monashee Investment Management and existing investors Domain Associates, Battelle Ventures and Gund Investment Corporation.In conjunction with the funding, Darren Cai, Ph.D., Executive Director at Legend Capital, and Campbell Murray, M.D., Managing Director at Novartis Venture Fund, joined BioNano’s board of directors.The company intends to use the funds to expand commercialization efforts to grow the installed base and utilization of its Irys™ platform and to develop new platforms and technology innovations.Led by Erik Holmlin, Ph.D., President and CEO, BioNano Genomics has developed the Irys platform, which provides researchers and clinicians with an organized and actionable picture of a genome, including insights into how the individual components of genomes are ordered, arranged, and interact with each other.The company works with institutions in life science, translational research, molecular diagnostics and personalized medicine.