The management team at SimplSeq is pleased to announce that it has received a $500,000 investment in the company, concluding its seed capital financing.
“This funding will allow us to reach additional milestones in order to drive towards commercialization,” stated Jay Goth, CFO of the company. “We have allocated this capital for continued R&D and patent protection. Over the next several months we expect to see additional patent filings and completion of our initial internal validations.”
Until this point, the company has been bootstrapped and funded by Murrieta Genomics, the genomic sequencing launchpad. With the additional capital the company plans to continue to develop and refine the technology that is the foundation for transforming genomic sequencing processes – enabling faster, less costly and more effective sequencing by genomic labs.
“We met with our investor at the JP Morgan conference in San Francisco,” explained John Powers, SimplSeq’s CEO. “He was already convinced that we had something special, but it helped to meet with him and some of his advisors to fully explain the merits of the company’s technology.”
The company has one patent application filed and another in process. Initial data coming from internal validation studies have supported the company’s theories and further studies are scheduled.
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