GENEWIZ, a genomics services provider, has received an undisclosed investment with financing led by OrbiMed. Additional investors included Ampersand Capital Partners and Prime Value Capital Management.
The company, founded in 1999, provides DNA sequencing, gene synthesis, insight in molecular biology, high throughput/next generation sequencing, bioinformatics, and GLP-CLIA regulatory services to pharmaceutical and biotechnology companies as well as research facilities globally.
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A GENEWIZ representative was not available to comment on how much was raised or how the round of financing will be used.
OrbiMed recently announced the closing of a major fund, bringing in $950 million with the help of investments from medical research institutions around the world, in addition to leading endowments, foundations and sovereign wealth funds. The fund is dedicated go toward investment in biopharmaceuticals, medical devices, diagnostics and healthcare IT companies.
Looks like a chunk of that is going to GENEWIZ.
A little bit of side information: Admera Health, now an independent entity, was originally developed as a unit of GENEWIZ. Admera is an advanced molecular diagnostics company focused on personalized medicine and non-invasive cancer testing. There has been some skepticism about Admera’s practices in terms of its use of the “laboratory developed test” (LDT) loophole, much like the strategy that’s been utilized by Theranos, essentially avoiding pre-market verification by doing their own on-site testing.
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Photo: Flickr user Libertas Academica
