Genetic Sequencing Technology Gets VC Attention

Next-generation genetic sequencing, the idea of cheap and accessible testing, is one of the trendy areas in the medical device industry and a potential game-changer in the testing equipment sector.Just this week, GenapSys of Redwood City, CA said it has raised $37 million in venture capital to support commercialization of its GENIUS 100 system for DNA sequencing. (GENIUS stands for Gene Electronic Nano-Integrated Ultra-Sensitive.)The GENIUS 100 system " integrates advanced fluidics and analytical capabilities to produce sample-to-answer performance for DNA and RNA sequencing, while dramatically reducing capital and operating expenses," according to a GenapSys news release.The latest round of financing, described as Series B, included existing investors DechengCapital and IPV Capital, with participation from new investors Yuri Milner, Stanford StartX Fund, and other private and institutional investors.GenapSys is not the only Northern California company active in this area. The Bay Area, in fact, has seen great strides when it comes to genomics.Mountain View-based Genia Corp., for example, has technology that measures changes in electrical currents to engage in genetic sequencing, versus the expensive optical sensors presently used. While the current cost of sequencing a genome typically ranges from $1000 to $4000, Genia's goal is a $100 genome.