Led by the Novalis Biotech Acceleration fund, Alithea Genomics has finalised its seed extension round, raising CHF 2.8 million ($3.2 million). The proceeds from the round will fuel the company’s commercialization and expand the manufacturing capacity of its unique RNA sequencing products. In line with the round, the startup announced the establishment of its US subsidiary.
Based in Lausanne, Alithea Genomics is an emerging company in the field of large-scale RNA sequencing and transcriptomics. The company commercializes massively multiplexed library preparation solutions for RNA sequencing, with two products in the market, notably the BRB-seq and DRUG-seq, which enable the preparation of hundreds of RNA samples for sequencing in a single tube and without the need for RNA isolation, respectively.
Traditional preparation of samples for RNA sequencing is expensive and time-consuming, due to the large amounts of reagents and manual operations that are typically required. Alithea’s BRB-seq technology enables researchers to discover novel biomarkers and essential data needed to develop new drugs while drastically decreasing the cost and time associated with RNA sequencing preparation.
Following the initial seed financing, Alithea Genomics has made significant progress – the company grew its product portfolio with the addition of DRUG-seq that is now used by several big pharma companies to improve drug development processes and expanded its overall production and service capacity. Tens of thousands of RNA samples can now be processed quickly and with high quality.
“Since our initial seed investment, the Alithea team has delivered on all its milestones and exceeded our expectations in the progress being made,” said Jan Van den Berghe, co-founder and managing director of Novalis Biotech. “In two short years, we have seen the market for Alithea’s ultra-high throughput RNA sequencing products expand and grow into multiple areas.”
Alongside Novalis Biotech Acceleration Novalis Biotech, the seed extension round saw the participation of new investor TechU Ventures and existing investors. The secured CHF 2.8 million will enable the company to boost commercialization, expand the manufacturing capacity of its RNA sequencing products, advance the development of new technologies. The company has established a subsidiary in the United States, strengthening its global presence and enabling closer collaboration with partners and customers.
(Press release/RAN)
Please login or sign up to comment.
Commenting guidelines