- Market News
ReadCoor to commercially launch spatial sequencing platform10 Jan 2020
Platform gives researchers access to previously undiscovered data to guide evaluation and validation of new drug targets, pathogen identification, disease diagnosis, and the advancement of regenerative medicine.
ReadCoor, a company reinventing omics and pathology with its 3-dimensional (3D) multi-omic spatial sequencing platform, has announced a $27 million Series B financing to accelerate the commercialization of its proprietary FISSEQ technology for use in research, drug discovery, and diagnostics.
“ReadCoor has made rapid progress in bringing multi-omic spatial sequencing from development to the market,” said Victor E. Tong, Jr., Partner at Decheng Capital and Chairman of the ReadCoor board of directors. “The platform that ReadCoor has developed features a leading-edge technology to sequence and characterize tissue in 3D that offers the potential for new insights in clinical research and drug discovery.”
Proceeds from the Series B financing will be used to accelerate commercialization of ReadCoor's platform, powered by its proprietary FISSEQ (fluorescent in situ sequencing) technology, which simultaneously reads the sequences of thousands of molecules and visualizes high-resolution 3D spatial information within whole cells and tissues.
With first-of-a-kind capabilities to sequence and characterize data in three dimensions, ReadCoor’s platform gives researchers access to previously undiscovered data to guide evaluation and validation of new drug targets, pathogen identification, disease diagnosis, and the advancement of regenerative medicine. The platform is comprised of an instrument, kits, and data analysis and visualization cloudware, so that it can be incorporated into the workflow of researchers in research and drug discovery.
ReadCoor's platform and product portfolio have been validated across a range of applications over the past year, including non-small cell lung cancer, breast cancer, and a brain atlas. The company's initial product suite includes research and discovery applications in oncology, infectious disease, and neuroscience. The Select Release Program and platform will be unveiled at the 20th Advances in Genome Biology and Technology (AGBT) in February 2020.
“The development of true spatial sequencing is currently burdened by technical challenges, including the need for specialized imaging hardware, laborious protocols, and unsupported analysis software. To overcome these challenges and integrate these methods, we created an all-in-one solution with unparalleled capacity for true multi-omic spatial sequencing with high-resolution 3D imaging, robust data collection and analysis,” said Richard Terry, Founder, President, and CEO of ReadCoor. “It is gratifying that our investors support our technology and approach as we move rapidly towards commercialization, and we are excited to expand the availability of our platform to customers.”
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