Geneus Tech, a Shenzhen-based developer and manufacturer of gene sequencers, has reportedly raised an undisclosed amount of money in a Series B+ financing round. The round was led by GF Xinde Investment and a private equity fund initiated by Zhejiang Dian Diagnostics Co., Ltd (SHE: 300244). The proceeds will be used to scale up the manufacturing of the Gseq500 medium flux nanopore gene sequencer.
Gseq500: Product Overview and Market Expectations
Founded in 2017, Geneus Tech is on track to achieve mass production and sales of its first medium flux nanopore gene sequencer product, the Gseq500, in the second half of this year. The Gseq500 represents a significant advancement in gene sequencing technology, offering medium flux capabilities that are expected to meet the growing demands of the genomics market. This scaled manufacturing initiative is poised to enhance Geneus Tech’s market position and contribute to the broader adoption of nanopore sequencing technologies.
Strategic Use of Funds
The funds raised in the Series B+ round will be crucial for Geneus Tech to realize its goal of mass production and sales of the Gseq500. This investment will support the expansion of manufacturing capabilities, ensuring that the company can meet the anticipated demand for its innovative gene sequencer. The move is expected to accelerate the commercialization of the Gseq500, bringing advanced gene sequencing solutions to researchers and clinicians more efficiently.-Fineline Info & Tech
