This article was originally posted on GenomeWeb on May 8, 2018.
NEW YORK (GenomeWeb) – SeqOnce Biosciences announced on Monday that it has closed a $1 million seed financing round led by investment fund Mount Wilson Ventures.
In conjunction with the financing, Mount Wilson Partner Mike Giardello will join SeqOnce’s board.
SeqOnce was spun out of the University of Southern California in 2014 to develop and commercialize next-generation sequencing sample preparation products and services based on a novel sample prep chemistry licensed from the university. The chemistry, which was developed by SeqOnce Cofounder and CSO Joseph Dunham, enables the preparation of samples for sequencing in less than 25 percent of the time required by most other library prep methods, the company said. SeqOnce’s kit can be applied to DNA from any sample source and can be adapted to most sequencing applications.
The company said it will use the seed funding to support the commercialization of its recently launched Rapid DNA-seq library construction kit for whole-genome NGS. SeqOnce also has library prep kits for Illumina NGS platforms — called RYNO-seq — in beta testing.
“The funds raised will enable SeqOnce to commercially launch our first product and lay the foundation for future growth and new products,” SeqOnce CEO Chris Angermayer said in a statement.