Cambridge Epigenetix (CEGX), a life sciences tools and technology company revolutionizing genome sequencing, today announced the signing of an $88 million Series D financing, bringing the total funds raised to date to $146 million. Temasek led the Series D round with participation from new investors including Third Point and existing investors such as GV, New Science Ventures, Ahren Innovation Capital and Sequoia.
Proceeds from the financing will be used to commercialize the company’s proprietary genetic and epigenetic sequencing technology, which easily integrates into existing sequencing platforms to enable more information to be read from DNA. The technology has been validated by leading genomic research institutions of which several, including Professor Dennis Lo of The Chinese University of Hong Kong, and Professor Wolf Reik of the Babraham Institute, have continued using the technology through early access programs.
Professor Sir Shankar Balasubramanian FRS, founder of Cambridge Epigenetix, said, “We are pleased to have raised a significant Series D round from high-profile investors to support the commercial launch of the first product from our new multi-omic platform, and the expansion of our organization. Importantly, our sequencing technology works with all sequencers and enhances their accuracy as opposed to replacing or competing with them. Further, our technology has the potential to dramatically reduce the cost of genome sequencing, as the low sample requirement and streamlined workflow facilitate its cost-effectiveness and ease of use without sacrificing accuracy. We look forward to product and to making game-changing contributions to DNA sequencing, epigenomic research and precision medicine.”
CEGX’s product unambiguously identifies five letters of DNA – four genetic bases (A-T-C-G) plus methylated cytosine (5mC or 5hmC) – in a single sequencing workflow with a low DNA sample requirement and high accuracy. Epigenetic marks are a vital source of biological information that will enable the next generation of diagnostics such as those for early cancer detection. The laboratory component of CEGX’s product is in manufacture and these kits, combined with software, are expected to be available for purchase in early 2022. This will be followed by the launch of additional platform products, the next being a 6-letter kit.