Whats going on at quantapore
Menlo Park-CA-(July 18, 2018) – Quantapore Inc. announced the completion of a $15.55 million sale of Series 3 Preferred Stock led by Northern Light Venture Capital (NLVC). Tsingyuan Ventures and Sangel Venture Capital were major investors in the round and were joined by Baidu Ventures and Cloudstone VC. Mr. Feng Deng of NLVC has joined Quantapore’s Board of Directors.
Quantapore Inc. has developed a novel, nanopore sequencing technology able to rapidly and accurately sequence DNA at one tenth the cost of prevailing technologies. Quantapore’s proprietary technology is based on an optical interaction between a single DNA molecule and a nanopore and can be scaled to hundreds of thousands of nanopores per chip. This novel approach achieves long-read DNA sequencing at unprecedented speed, accuracy and cost. Additionally, this technology eliminates the laborious sample preparation steps required with existing technologies, further decreasing cost and opening new market opportunities for genomic sequencing.
The current funding will be used to advance Quantapore’s technology to beta units for deployment to select, early-adopters in industry and academia. During the next several months the Company will be hiring additional software and hardware staff to accelerate product development.
“I am very happy to welcome our new investors to the Quantapore family and am particularly excited to have a seasoned investor like Feng on our Board. With the support of our investors combined with the efforts of our talented and dedicated team, I look forward to taking Quantapore’s technology to market and bringing the power of genomics within reach for researchers and clinicians everywhere” said Quantapore’s CEO Dr. Martin Huber. “Until now, we have operated in stealth mode while we were developing this revolutionary way to sequence DNA and RNA. You’ll hear more from us in the coming months.”
“I am very excited to play a part in the realization of Martin’s vision and look forward to working with the team to bring this exciting technology to market”, said Feng Deng, Founder and Managing Director of Northern Light Venture Capital. “As a long-time investor in genomics, I know well the opportunity and the need for new technologies to make the sequencing process easier and more cost-effective. Quantapore’s optical nanopore technology holds great promise to rapidly move the industry forward.”
The global market for genomic testing is estimated at $10 billion. This market is expected to grow exponentially with equipment and consumables representing 60% of the total market. Development of more efficient and rapid genomic sequencing methodologies is anticipated to further drive adoption of sequencing platforms as well as smaller scale platforms for clinical diagnostics.
About Quantapore Incorporated
Quantapore Inc. is a biotechnology company focused on the development of an ultra-low-cost, high-throughput DNA sequencing platform. Based in Menlo Park, CA, the company was founded in 2009 and is well on its way to the commercialization of its novel sequencing platform. The combination of low cost, long reads, simple workflow and fast sample-to-results turnaround time holds the promise to make Quantapore Inc. one of the world’s leading sequencing system providers.
Media contact: Martin Huber, CEO Quantapore Inc. +1 650-321-2030
About Northern Light Venture Capital
Northern Light Venture Capital (NLVC) is a leading China-focused venture capital firm targeting early stage opportunities of innovation and disruptive technology. Since founded by Feng Deng in 2005, Northern Light has backed over 200 ventures in TMT, healthcare and advanced technology. Leveraging significant investing and entrepreneurial expertise in both China and the United States, the NLVC team looks to support entrepreneurs with groundbreaking ideas and exceptional vision to develop lasting ventures that positively impact society.
About Tsingyuan Ventures
Tsingyuan Ventures is a technology-focused venture fund investing in seed to A-round startups in the United States. It has maintained deep ties to the extensive Tsinghua University and other leading universities network in both the US and China. The fund has used this network and deep technical expertise to source and invest in some of the best early stage companies since 2011.
About Sangel Venture Capital
Sangel Venture Capital is a venture capital investment firm established in 2010 in Shenzhen, China. Sangel Venture Capital provides venture capital and business finance to support high-tech enterprises in China, Canada and the USA. The company seeks to invest in innovative enterprises in sectors including: biomedicine, medical devices, healthcare and bio-tech.
About Baidu Ventures
Baidu Ventures is a venture capital arm specializing in startups and early stage investments. The firm typically invests in pan-internet, artificial intelligence, augmented reality and virtual reality. Baidu Venture was founded in September 2016 and is headquartered in China.
About Cloudstone VC
Cloudstone is a US dollar fund focusing on the emerging high-tech fields including healthcare and advanced manufacturing.
Menlo Park-CA-(Sep , 2016) – Quantapore Inc. today announced that it has closed a Series C financing round, led by China BioPharma Capital I, a venture capital fund advised by TVM Capital Life Science via its Hong Kong based office. Details of the financing were not disclosed.
Quantapore Inc. is developing a novel, single molecule sequencing technology that will significantly reduce the cost of sequencing. Unlike other nanopore approaches, Quantapore utilizes an optical read out which results in lower cost and higher throughput compared to electrical data acquisition. The company’s proprietary sequencing technology will also eliminate other bottlenecks associated with today’s sequencing technologies, namely laborious sample preparation and short read length.
“Quantapore has achieved key milestones in the past 12 months. Sequencing results are very promising and we’re well on our way to a commercial product,” said Quantapore’s CEO Martin Huber. “We are very pleased to have won a new investor which will give us access to the global network of TVM Capital Life Science which will accelerate our business development efforts.”
The global next generation sequencing (NGS) market is anticipated to reach USD 14.0 billion by 2024, according to a report by Grand View Research, Inc., from June 2016. Growing adoption of next generation sequencing techniques for prognosis and treatment monitoring of different chronic diseases such as cancer and other pathogenic infections is one of the high impact rendering driver for progress in this industry.
Mirko Scherer, Managing Partner of TVM Capital China Ltd., Hong Kong, will join the Board of Quantapore. He comments: “While the NGS market has been growing rapidly in the past few years, current technologies still have serious limitations such as long sample preparation times, short read length, low throughput, and high costs. We think that Quantapore’s highly innovative Nanopore based technology with optical read outs can address several of those limitations. The company is poised to generate a wealth of exciting data within the next 12 months and we are excited to support Martin and his highly experienced technical team in the future to further develop this cutting edge technology for the NGS market.”
About Quantapore Incorporated
Quantapore Inc. is a biotechnology company focused on the development and commercialization of an ultra low-cost, high-throughput DNA sequencing platform. Based in Menlo Park, CA, the company was founded in 2009 and is well on its way to the commercialization of its novel sequencing platform. The combination of low cost, long reads, simple workflow and fast sample to result turnaround time holds the promise to make Quantapore Inc. one of the world’s leading sequencing system providers.
Media contact: Martin Huber, CEO Quantapore Inc. +1 650-321-2030
About TVM Capital Life Science
TVM Capital Life Science is providing venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries with more than 30-years of transatlantic investment track record and in excess of US$1.4bn raised and under management. With its advisory, corporate finance and investment teams located in Montreal, Munich and Hong Kong, the TVM Capital Life Science team provides investors as well as entrepreneurs and innovation-seeking biopharmaceutical companies’ access to global life science innovation and provides paths for successful tech transfer and commercialization for the benefit of patients and investors alike.
The TVM Capital Life Science international team looks back on more than 130 investments and over 90 exits, including more than 45 initial public offerings on all major U.S. and European stock exchanges and has gained unrivalled international investment experience with their track record of dedicated board work, extensive global networks in the world of life science research and product development and a direct knowledge of the local markets.
Media contact: Dr. Mirko Scherer, Managing Partner, TVM Capital China Ltd., +852 3618 5860
……check out the Jobs section!
We are pleased to announce that Prof. Boxer agreed to join Quantapore’s SAB.
We are pleased to welcome Jason as a member of QPs Scientific Advisory Board.
Quantapore Inc. recently closed its Series B round of Preferred Stock financing.
In May 2014 Quantapore closed a Series B with a total investment volume of up to $35M from undisclosed investors.
Funds will be used to finalize the development of Quantapore’s proprietary sequencing technology as well as the commercialization of its sequencing platform.
US patent US 8,771,491 granted.