Wednesday June 21, 2017 0 comments
FORT COLLINS -- KromaTiD announced the successful closure of a Series A financing round.
KromaTiD, provider of Directional Genomic Hybridization and Pinpoint FISH products, said it successfully completed its Series A round as of May 31.
Funds from the round will be used to grow sales and expand marketing of KromaTiD’s proprietary products and services, as well as building operations to meet market demand for precision medicine products, the company said.
No financial details of the funding round were disclosed.
KromaTiD’s Directional Genomic Hybridization and Pinpoint FISH are genomic methods that provide disease researchers and clinicians with unique toolsets for discovering, detecting and diagnosing rearrangements to a person’s genome; data that compliments and expands on existing sequencing and genomic array techniques.
KromaTiD’s dGH products and services have been used by NASA, NIH, biopharmaceutical companies and institutional research scientists to discover novel genomic rearrangements and to study genomic rearrangements in oncology, rare diseases, radiation biology and chromosomal research.
KromaTiD’s Pinpoint FISH products provide high resolution solutions for detecting known genomic rearrangements that cause many blood cancers and solid tumors.
KromaTiD’s technologies also have application in veterinary and agricultural genomic research.
A novel application of KromaTiD’s dGH platform is in detecting off-target effects caused by CRISPR and other techniques being developed to cure certain genetic diseases by directly editing a patient’s genome, the company said.
As a cell-by-cell technique with unique capabilities for detecting mis-edits and other low frequency damage to the genome caused by editing, KromaTiD said dGH provides gene editing companies with essential data on the fidelity of their systems that they cannot get from any other platform.
“This is a very exciting time for KromaTiD and we are delighted to see our platforms providing researchers with essential genomic data that hasn’t been available through any other method,” said Christopher Tompkins, KromaTiD president and GM.
“With dGH and Pinpoint FISH, we are making significant impact in the emerging personalized medicine field by complementing our customers next-gen sequencing studies and providing them with a high-resolution routine and robust diagnostic method.”
Development of the dGH and Pinpoint FISH platforms has been previously funded by CSU Ventures, CID4, NASA and angel investors.
Commercialization funding through the Series A round was provided by Colorado and Texas angel investors.
“We are very fortunate to have committed investors, and to have new investors join in supporting commercialization of what promises to be an important set of tools to better understand and diagnose genetic diseases,” said Terry Opgenorth, KromaTiD board chair.