OpGen completed a $17 million Series B equity financing. The company will use the money to pad commercial initiatives for the recently launched platform for microbial whole-genome analysis, the Argus Optical Mapping System.
The system utilizes optical-mapping technology to generate ordered, whole-genome genetic maps from single DNA molecules. It is not a gel, PCR, or sequencing-based approach, but rather a method for generating high-resolution genetic maps that can be used in strain typing, comparative genomics, and whole-genome sequence assembly.
Scientists can use Argus Optical Maps to view and compare bacterial genomes to each other as well as to in silico sequences. They can reportedly elucidate genotype to phenotype relationships that would not be detected by other technologies.
“This financing will support the marketing efforts for our Argus Optical Mapping System as we continue to drive market awareness and grow revenues,” says Douglas White, CEO of OpGen. “In addition, the new growth capital will fuel our efforts to expand into new markets including developing new applications that will complement sequencing technologies and help facilitate rapid completion of large genome mapping and finishing technologies currently under development at the company.”