DNA Electronics Secures Funding from Genting Berhad
News Apr 29, 2014
DNA Electronics Ltd (DNAe) has announced that it had successfully secured the necessary funding for DNAe to develop the Genalysis® point-of-care genomic diagnostic product line.
The majority of the funding had been provided by its principal shareholder, Edith Grove Limited (a wholly owned subsidiary of Genting Berhad), with the company’s founders also making further investment.
DNAe will utilize the funding to transform the company from an R&D and licensing business to a full-fledged product company, offering point-of-care solutions for time-critical medical applications.
Combining the experience in next-generation sequencing gained from the company’s collaboration with Roche and its development of point-of-care genotyping solutions for personalized skincare analytics pioneer GENEU Limited, DNAe will develop a new product line of Genalysis® genomic diagnostic systems.
This further investment in DNAe forms part of a growing portfolio of cutting-edge healthcare companies funded by Genting Berhad. Tan Sri Lim Kok Thay, CEO and Chairman of Genting Berhad said: “We are excited about DNAe’s strategic growth plans and are delighted to provide our continued support to help the company achieve its clear market potential.”
Commenting on the further investment from Genting Berhad, CEO and Founder of DNAe Professor Chris Toumazou commented: “I would like to thank Genting Berhad for their continued strong support of DNAe, which reflects their confidence in our strategy and capability. Our label-free semiconductor sequencing technology is now proven across thousands of laboratories worldwide, through the company’s non-exclusive license to Ion Torrent, now part of Thermo Fisher Scientific. I am excited about embarking on this new chapter of growth and development of the company and making personalized genomic healthcare a tangible reality.”