KromaTiD receives $2M of growth investment from BroadOak Capital Partners
Thursday April 29, 2021
LONGMONT -- KromaTiD announced BroadOak Capital Partners made a $2M investment in the company.
KromaTiD said its sales and operations are rapidly accelerating, driven by growing market adoption of their products and services, such as the recently launched dGH In-Site and dGH SCREEN products for gene editing and gene therapy applications.
This capital will be used to accelerate commercialization, support ongoing product development, and to increase capacity to meet growing demand, the company said.
KromaTiD's directional Genomic Hybridization, or dGH, is designed to provide the genomic structural context necessary to optimize gene editing strategies for research and clinical purposes, such as therapeutic gene editing based on CRISPR technologies, requiring measurements that can only be made with a single cell, genome-wide analysis provided by dGH.
"We are delighted to have BroadOak's support and access to their expertise in the biopharma markets" said Christopher Tompkins, KromaTiD's CEO.
"With this non-dilutive funding, we are able expand our current services to biopharma, providing essential structural context to genomic manipulations associated with the development of breakthrough gene therapies.
“BroadOak's financing further enables the launch of our suite of whole genome, single cell genomic analysis products, bringing previously unheard-of capabilities to the gene editing and gene therapy markets."
BroadOak, a life science focused merchant bank, is active within the research tools, diagnostics and services sectors.
Bill Snider, BroadOak partner, said KromaTiD is “well positioned in one of the fastest growing sectors and is capable of delivering products and services to solve a critical need in confirmation of genomic editing in advanced therapies.
“The company's growth throughout 2020 is testament to the value they provide."