Roswell Biotechnologies secures $32 million Series A funding round to revolutionize DNA sequencing through molecular electronics
Roswell Biotechnologies, a life science startup that is revolutionizing DNA sequencing by harnessing the power of molecular electronics, has closed a $32 million round of Series A financing to support the development of their disruptive DNA sequencing Molecular Electronics technology. The investment is backed by multiple investors.
Founded in 2014 by Paul Mola, Roswell Biotechnologies is a molecular electronics company focused on innovative DNA reading technologies for the research, drug discovery, and diagnostic markets. The company is transforming DNA sequencing with their latest platform, designed to deliver the disruptive performance required for future biomedical and industrial applications. The platform technology, ENDSeq (Electronic Nano-Device Sequencing), deploys single molecule sensor nanotechnology in a scalable semiconductor chip format, to deliver a dramatic reduction in the cost of genome-sequencing with unprecedented speed, accuracy and simplicity.
Roswell is focused on delivering the molecular electronics chip and system that provides a $100, 1-hour whole human genome for use in precision medicine. The Company’s technology is based on the most recent advances in CMOS chips and molecular electronic biosensors, applied to overcome major challenges in the adoption of Precision Medicine. Roswell utilized the principles of molecular electronics combined with advances in CMOS chips, nano-fabrication and bio-sensor technology, in order to tackle one of the biggest issues of our time: precision medicine. “To realize the full promise and power of precision medicine, we must make whole genome sequencing low cost and accessible on a population scale,” the company said in a statement on its website.
“The capital raised will fuel the company’s R&D, expanding our operations to full strength for our programs in sensors, chips, instruments and applications. We are on an aggressive path to realizing the $100, 1-hour, clinical grade genome, to unlock the promise of Precision Medicine and usher in the DNA economy,” said Paul Mola, President and CEO of Roswell.
Roswell has developed a revolutionary process to integrate molecules into electronic circuits creating potential for unprecedented performance and scalability. The company’s platform enables direct real-time monitoring of polymerase activity that has been integrated into a nano-circuit for DNA Sequencing. The company has created a nano-scale molecular electronic sensor for reading DNA that can be deployed as a massively parallel sensor array on a standard CMOS chip.
“Our intent in founding Roswell was to create an ‘Endgame’ Sequencing technology: highly disruptive now, and with a long future road-map of improvement,” said CSO Dr. Barry Merriman. “Only true molecular electronics can deliver the disruptive $100, 1-hour genome in the near term, combined with a long-term road-map to much lower price points and greater speeds.”
Commenting on the company’s achievements, Dr. James Tour, Professor of Chemistry at Rice University, and an early pioneer in the field of molecular electronics said, “It is indeed a thrill to see a molecular electronics platform being used to get to the heart of the greatest molecular challenge in the constitution of humankind: the code of the human genome. Roswell’s solution has the promise of being accessible to the entire human race due to the process simplicity and accessible cost.”