PROVIDENCE – Nabsys Inc. has closed a $21 million equity round lead by Hitachi High-Technologies Corp., Nabsys announced Wednesday.
The company said the funding will be used to finalize product development and support the global launch of its whole-genome electronic-mapping platform.
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Nabsys CEO Dr. Barrett Bready formed the company in 2007 but later stepped away and a new CEO, Steve Lombardi, arrived in 2014. Nabsys then closed in 2015. The company reopened a month later, once again under Bready’s leadership, following a restructuring.
“This investment round will help Nabsys fulfill its mission to make the analysis of large- and intermediate-scale genomic variation as routine, accurate and cost-effective as the analysis of single-nucleotide variation,” said Bready.
Hitachi High-Technologies said it had consolidated revenues of roughly $6.6 billion in fiscal year 2018.
Nabsys previously told PBN it expects to have its high-definition mapping instrument up for sale on the commercial market later this year.
