BioNano Genomics Valued at $125M with Latest Funding
February 02, 2015
BioNano Genomics has raised $68.4 million, which includes its $53 million Series C round, at a valuation of $125 million. The valuation is nearly $75 million larger than what the company received with an $11.6 million raise in June 2012. BioNano has developed a system that enables researchers to detect structural variations that create individual gene differences. Capital from the new financing will reportedly be used to expand commercialization efforts, develop a new version of its Irys system and build out a diagnostics roadmap. The Series C investment was announced in November and led by Novartis Venture Fund and Legend Capital.