DNAe Secures £25M Bank Facility with Citibank
Summary
DNAe, a London, UK-based developer of semiconductor DNA sequencing technology, secured a bank facility of £25m ($38m) with Citibank.The company will use the capital, which follows an internal fundraising that raised $24m in January 2015 to fund DNAe’s acquisition of Albuquerque, USA-based nanoMR, Inc. (now DNA Electronics, Inc.), for the final development stages of its point-of-need test for serious blood infections.Led by Prof. Chris Toumazou, Executive Chairman, DNAe is applying its Genalysis® semiconductor DNA sequencing technology to develop a rapid in vitro diagnostic for serious blood infections that lead to sepsis.The test integrates DNA Electronics’ novel Pathogen Capture System technology with DNAe’s Genalysis® platform, to provide a complete blood-to-result diagnostic solution with actionable results in 2-3 hours.The company is backed by international investors including major shareholder Genting Berhad, a Malaysian-based global investor with a portfolio of life sciences companies.