Date: 2013-08-27
Type of information: Fundraising
Company: Desktop Genetics (UK)
Investors: Boundary Capital Ltd (UK), Execute Technologies (UK), Richard Youngman, Michael Martin (both of Anvil Partners LLP) (UK), Dr Jonathan Milner (CEO, AbCam Plc) (UK), Dr Darrin M Disley (CEO, Horizon Discovery Ltd) (UK)
Amount: £375,000 (€436,218)
Funding type: equity investment
Planned used: DeskGen is developing AutoClone™, a new DNA search engine that enables the optimal design, construction, management and exchange of DNA constructs to be used for vector/plasmid manufacturing, genome-editing, protein production and synthetic biology work-flows. This bioinformatics platform and database works by sourcing the DNA sequences needed to build any new DNA specified by the user. These DNA sequences may come from the user’s own freezer, from another lab within their organization, or even public repositories. In sourcing the sequence information, AutoClone enhances research productivity by reducing the lengthy and expensive process by which DNA is synthesized externally (4-6 weeks by CRO) or internally (5-6 hours by expert scientists). DNA sequence, inventory, management and sharing functions enable the rapid and accurate assembly of sequences into validated molecular biology tools. The investment will be used to: (a) expand the functionality of the AutoClone™ platform through internal R&D programs and in conjunction with industrial partners; (b) develop a cloud version of the product to be launched following a beta trial to be held in Q4, 2013; (c) establish business development, sales, and marketing functions that will enable the serving of customers in Europe and the USA.
Others: * On August 27th, 2013, Desktop Genetics, a UK bioinformatics company aiming to revolutionize the way genetic engineers work together, has announced that it has secured an equity investment of £275,000. The investment comes from Boundary Capital Ltd, Execute Technologies Inc, and angel investors Richard Youngman, Michael Martin (both of Anvil Partners LLP), Dr Jonathan Milner (CEO, AbCam Plc) and Dr Darrin M Disley (CEO, Horizon Discovery Ltd). The receipt of the investment further unlocks a Technology Strategy Board grant for an additional £100,000, bringing the total funds raised to £375,000.
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