Democratizing Genomics, Sequentify Raises $7M to Enable DNA Sequencing at Scale
REHOVOT, Israel, May 10, 2022 /PRNewswire/ -- Sequentify, a Weizmann Institute of Science spinoff, enables fast and focused DNA sequencing. It combines tools from the synthetic biology and AI software fields to enable rapid targeted DNA sequencing. Sequentify exits stealth mode with $7M in raised funds led by Israel's most active venture firm, OurCrowd. The funds will be used to accelerate R&D, delivery, and go-to-market plans for the company.
Sequentify, on track to 600% revenue growth, already has multiple hospitals and labs as customers, as well as over 70x valuation growth in less than18 months.
OurCrowd CEO Jon Medved said, "We are excited to be leading this round because the DNA revolution has just begun and Sequentify has the best next generation sequencing solution in the market."
Founded in 2021, Sequentify is based on a technology developed by Co-Founders Tamir Biezuner and Tom Fleischer at the laboratory of Liran Shlush. Sequentify democratizes genomics by providing DNA library preparation for Next Generation Sequencing (NGS) and AI software that enables fast, cost-effective and automated sequencing. Sequentify's NGS products are based on its InfiniSeq proprietary platform and include COVID-19 surveillance, cancer diagnostics, carrier screening and more.
Ophir Herbst, Co-Founder and CEO of Sequentify said, "With the decentralization of NGS into local labs and hospitals and the expansion of NGS into clinical use, these institutions are in need of easy-to-implement, fast and cost-effective NGS solutions. Sequentify enables DNA screening at scale with the goal of making genomics as common and affordable as testing for blood counts."
Sequentify's InfiniSeq technology condenses sample preparation lab time to only 3.5 hours from DNA to sequencing, with one-tube reaction, full automation support, and dramatic cost reduction. The patent-pending InfiniSeq technology is adjustable to most sequencing instruments and fits into any lab workflow, thus enabling full integration into laboratories that have so far refrained from entering the sequencing field.
During the COVID-19 pandemic, Sequentify's COVID-19 mutation surveillance kit enabled mapping the entire COVID-19 viral genome in a cost-effective, fast and automated process supporting the identification of existing and emerging variants such as Omicron and Delta.
Sequentify is also working on supporting liquid biopsy, epigenomics and virology across its technologies.
600% revenue growth rate, Sequentify supplies Next Generation Sequencing libraries and software for cancer diagnostics, carrier screening and COVID-19 surveillance