KROMATID Secures $8 Million to Fuel Innovations in Genomics
KROMATID Successfully Completes Series C Funding Round
Funding positions KROMATID for accelerated growth in genomic analysis and gene editing technologies.
KROMATID, a leader in next-generation genomic structural analysis, has announced the successful completion of its Series C funding round, raising an impressive total of $8 million. This achievement not only met but also exceeded their anticipated capital goals. The final round of investments contributed significantly, with $3.8 million being raised from various existing and new strategic investors, led by BroadOak Capital Partners.
The capital generated from this successful funding round will primarily be utilized to expand KROMATID's proprietary platforms. This initiative aims to enhance the detection of chromosomal structural rearrangements and scale operations to meet the increasing global demand for genomic analysis. Along with this, the capital will help in forging strategic partnerships with leading entities in pharmaceutical and academic sectors focusing on cell and gene therapy.
CEO of KROMATID, Jim Chomas, expressed enthusiasm over the funding achievement, stating, "We are thrilled to have achieved our funding goal, which is a testament to the confidence our investors have in our vision and the unique capabilities of our technology." He added, "This investment enables us to scale faster, innovate further, and continue delivering the genomic insights that help bring life-changing therapies to patients."
Your Partner in Genomic Innovations
As the gene and cell therapy industry continues to expand rapidly, KROMATID stands out with its differentiated platform that provides accurate, high-resolution analysis of genomic integrity. Bill Snider, a partner at BroadOak Capital Partners, acknowledged the company’s potential, stating, "KROMATID has built a differentiated platform that provides accurate, high-resolution analysis of genomic integrity, one of the most pressing needs in the rapidly expanding gene and cell therapy industry." He indicated pride in their ongoing partnership as KROMATID enters this new growth phase.
Funding Allocation and Future Intentions
In the upcoming 12 to 18 months, KROMATID is set to allocate this funding towards several strategic initiatives. Their primary focus will be on commercial expansion while enhancing automation and throughput within their laboratory operations. Additionally, they plan on investing in new talents across various sectors including scientific, operational, and customer-facing roles to adequately manage the increasing market demand.
About KROMATID
KROMATID stands at the forefront of providing next-generation genomic structural analysis solutions tailored for gene and cell therapy developers. The company prides itself on enabling precise detection of chromosomal structural rearrangements with unmatched clarity and resolution. Through a meticulous combination of proprietary imaging and bioinformatics capabilities, KROMATID supports therapeutic innovation from the early discovery stage through to regulatory approval.
About BroadOak Capital Partners
BroadOak Capital Partners is recognized as a specialized financial institution, offering direct investment and investment banking services specifically to companies in the life science tools, diagnostics, and biopharma sectors. With a notable track record, BroadOak has invested in over 70 life sciences companies, marking more than 35 successful exits, showcasing their expertise and commitment to fostering innovation.
Contact Information
For media inquiries, KROMATID can be reached through their Global Marketing Manager, Amanda Ladas. Her contact information is available through KROMATID’s official channels.
Frequently Asked Questions
What is the main goal of KROMATID's recent funding?
The funding primarily aims to expand their genomic analysis platforms and meet the growing demand in the market.
Who led the recent Series C funding round?
The funding round was led by BroadOak Capital Partners, with participation from both existing and new investors.
What applications will the funding support?
The funding will support initiatives in genomic structural analysis, automation enhancements, and strategic hiring.
What does KROMATID specialize in?
KROMATID specializes in next-generation genomic structural analysis, focusing on gene and cell therapy solutions.
How can KROMATID's technology benefit patients?
KROMATID’s technology aids in the development of life-changing therapies by providing essential insights into genomic integrity.
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