Stratos Genomics Announces Financing for Validation of SBX™ Genome Sequencing Technology
Seattle, Wash. – June 8, 2011 – Stratos Genomics Inc today announced $2.1 million of funding to continue development of its ultra-low-cost nucleic acid sequencing method for whole genome analysis and molecular diagnostics. The funds are provided by existing shareholders as an “up round” to August 2010’s $4 million financing and under the same Series-A terms.
“We are fortunate to have great results and supportive investors,” Stratos Genomics CEO, Allan Stephan, said. “Our shareholders recognize that we are entering an exciting phase and don’t want our validation pace interrupted by external fundraising activities.”
About Stratos Genomics Inc
Stratos Genomics’ goal is to establish the next gold standard of DNA sequencing with its “Sequencing by Expansion™” (SBX™) method. SBX is a simple, elegant, single-molecule detection process that circumvents the limitations of competing technologies, allowing accurate, ultra-low-cost whole genome sequencing. Established in 2007, Stratos Genomics Inc. is a spin-off of Seattle-based Stratos Group LLC.