NGX Bio Raises $3 Million to Fund Growth of Its DNA Sequencing Marketplace
SAN FRANCISCO, Aug. 15, 2017 (GLOBE NEWSWIRE) -- NGX Bio, Inc., (www.NGXbio.com) the premier marketplace for online DNA sequencing services, announced it has closed a $3 million funding round. The round was led by 180 Degree Capital Corp. (NASDAQ:TURN) and included Third Kind Venture Capital, Lateral Capital, the Band of Angels and the Berkeley Angel Network, as well as other investors.
NGX Bio was founded in 2014 to provide streamlined, on-line access to next-generation sequencing services for clients seeking high quality, rapid and cost-effective sequencing of both human and non-human samples globally. Demand for sequencing services is growing exponentially. NGX Bio's platform matches the sequencing needs of customers with providers who have available sequencing capacity. Customers are able to purchase a wide range of sequencing services for their samples using NGX Bio's online ordering tools. NGX Bio offers these services through numerous and deep relationships with its extensive network of sequencing service providers. The ability to offer virtually unlimited sequencing capacity, to finish projects rapidly, and to always stay at the cutting edge of fast-evolving sequencing technologies distinguishes NGX Bio from its competitors and from internal corporate, academic or government sequencing resources.
"We appreciate the support from our investors to fund the next stage of the growth of our business," said Denis Kourakin, President and Chief Executive Officer of NGX Bio. "Our platform makes completion of sequencing projects simpler and more affordable for all clients and allows them to scale without the need for capital investment. This funding will allow us to continue our relentless focus on delivering high-quality, rapid and cost-effective sequencing solutions for our customers."
About NGX Bio:
NGX Bio is a San Francisco-based company providing streamlined, on-line access to next generation sequencing services for clients seeking high quality, rapid and cost-effective sequencing solutions globally. Founded in 2014 by two professors of Stanford University, NGX Bio offers virtually unlimited sequencing capacity to its customers through its partnerships with numerous sequencing providers.
Phone: +1 (415) 464 6379
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: NGX Bio via Globenewswire
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