Utah-founded metagenomic evaluation platform developer IDbyDNA has now raised at least $29m, with the latest round to support continued commercialisation.
IDbyDNA, a US-based metagenomic analysis spinout of University of Utah, has obtained $20m in a series B round led by hedge fund Artis Capital, with participation from Genesys Capital.
Several unnamed investors also participated in the round.
Founded in 2014, IDbyDNA has created metagenomics-driven lab technology that rapidly identifies more than 50,000 microorganisms and 3,000 known disease pathogens to help uncover medical insights in areas such as microbiome testing and infectious disease.
The platform, dubbed Explify, also facilitates the quantification of specific microbes and the detection of antimicrobial resistance.
Metagenomics is the branch of genomics that aims to protect the microbial biodiversity of samples by retrieving them from their organic environment instead of cultivation-based methods.
The funding will aid efforts to drive Explify’s adoption in IDbyDNA’s target segments, specifically through collaborations with hospitals, commercial labs and academic institutions.
IDbyDNA also plans to launch a new commercial laboratory to augment its technological capacity for services such as end-to-end clinical microbial profiling, syndromic testing and next-generation sequencing.
The spinout previously closed a $9m series A round in 2016 led by Artis Ventures that featured University of Utah-founded disease research body Arup Laboratories along with undisclosed additional investors.
