OpGen bags up to $17M in VC deal

Posted under Blog, Companies, Diagnostics, Dna Sequencing, Funding, Genomics, Medical Devices, Medical Supply, OpGen, Pharmaceuticals, Startups, Universities, VC, Videos by Ryan McBride

OpGen has struck a deal with investors to haul in as much as $17 million in a Series C round of financing, providing the company with growth capital to bolster sales of its genomic research tools and analysis software products, the company said this morning.

The Gaithersburg, MD-based company--whose whole genome mapping technology is intended to provide a more complete and accurate view of the genome than sequencing alone--tapped new investors Harris & Harris Group and Cross Creek Capital for the round, which also included repeat backers Highland Capital Partners, Versant Ventures, jVen Capital and CHL Medical Partners. As part of the deal, Harris & Harris's Misti Ushio has joined OpGen's board of directors.

OpGen, founded in 2001, has seen more than 100 customers use its whole genome mapping technology or services, CEO Doug White told FierceBiotech in an email. Unlike Illumina's ($ILMN) whole genome sequencers, which identify the building blocks of cells in DNA, OpGen's genome maps enable speedy and relatively low cost sequence assembly. With the maps, researchers are able to hunt down structural variations in genomes and chromosomes, a tricky task using sequencing data alone, White said. 

"Our customers are using the technology for sequence assembly and finishing as well as comparative genomics analysis," White said. "We have customers in public health and food safety market, biodefense, genomics research and sequencing centers."

According to its press release, the company's customer base includes BGI, the world's largest sequencing operation, as well as Wellcome Trust Sanger Institute, the Genome Institute at Washington University and the University of Maryland Institute for Genome Sciences.

- here's the press release

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Genomics revolution ignites new M&A talk, showstoppers

Posted under Blog, Companies, Diagnostics, Dna Sequencing, Funding, Medical Devices, Medical Supply, Pharmaceuticals, Roche, Startups, targeted therapies, Universities, Videos by Ryan McBride

Roche's $5.7 billion hostile bid to scoop up DNA sequencing machine maker Illumina ($ILMN) has triggered talk of further merger targets in the promising genomics arena. And the race to invent faster and cheaper ways of decoding the genome has pushed small companies to the cutting edge of the field, giving industry leaders such as Illumina and Life Technologies ($LIFE) a run for their money.

While Swiss drug giant Roche continues its advance to gobble up a resistant Illumina, analysts have noted that rival Life Technologies could generate interest from other companies wanting a foothold in the blossoming market for DNA sequencers, Bloomberg reports. Genomics touches drug development, diagnostics and basic research. Other potential targets could be cancer test maker Genomic Health and Affymetrics, a maker of gene-analysis products, JMP Securities said, as quoted by Bloomberg.

"Roche's hostile bid for Illumina sparked a lot of interest in the genetic sequencing space," Alex Morozov, a Morningstar analyst, told the news service. Buyers could "look to supplement their internal R&D with external candidates, especially if they see something that could potentially be promising."

Both Life Technologies and Illumina announced last month their latest sequencers promise to push the cost of decoding a whole genome to the prized price tag of $1,000, making the technology more practical for screening patients' DNA for genetic clues about the best treatments. Drugmakers have seized the fruits of the technology as sequencers uncover new genetic targets for personalized drugs against cancer and genetic diseases.

Roche, which is also a leading diagnostics company, has stood alone among the Big Pharma groups making bids for sequencing companies. Sanofi CEO Chris Viehbacher has already said his company would prefer to stick to partnerships to access such platform technologies. Rather, the large potential buyers include companies with diversified healthcare businesses such as General Electric ($GE) and Siemens, Bloomberg reported. Experts have pointed out the speed at which the genomics field is changing, potentially making the standout products of today obsolete in a short period of time.

The field was reminded of this rapid change last week at a genomics meeting in Florida, during which Oxford Nanopore Technologies technology chief Clive Brown unveiled a sequencer that will cost just $900 and fit neatly in a device that is the size of a computer thumb drive, Xconomy reported.

- check out Bloomberg's article

- see Xconomy's report

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Roche looks to snatch up Illumina for $5.7B

DNA sequencing exposes new uses for Pfizer targeted cancer drugs

Posted under Blog, Companies, Dana-Farber Cancer Institute, Diagnostics, Dna Sequencing, Foundation Medicine, Funding, Medical Devices, Medical Supply, personalized medicine, Pfizer, Pharmaceuticals, Startups, Sutent, Universities, Videos, Xalkori by Ryan McBride

As pharma companies expand their use of DNA sequencing for drug R&D, researchers have uncovered some potential new targets for existing cancer drugs that are likely to spur further use of sequencing in the biopharma world. And their study has shed light on potential new uses for at least two of drug giant Pfizer's ($PFE) targeted cancer drugs.

With a cancer gene test from life sciences startup Foundation Medicine, the researchers from Dana-Farber Cancer Institute and elsewhere found that 59% of lung and colorectal cancer samples tested included genetic abnormalities that could be combated with targeted cancer drugs. A subset of lung cancer samples showed that the patients had mutations that could be targeted with Pfizer's approved kidney cancer drug Sutent, and one patient's colorectal cancer was found to have gene abnormality targeted by Pfizer's Xalkori.

The previously unknown genetic flaw in lung cancer was seen in about 2% of patient samples, but Dana-Farber lung cancer specialist Dr. Pasi Janne says that is enough to warrant further study of the Sutent in certain lung cancer patients, he told Bloomberg. Pfizer is taking an interest in the findings too, which shouldn't come as a surprise. Drugmakers and regulators have shown a willingness to move forward with drugs for small pools of patients if the drugs can deliver major benefits for those patients. With genetic tests like Foundation's catching on among drug developers, there's sure to be other new targets unearthed to propel further development of personalized cancer medicines.

"It is moving closer and closer to real personalized medicine," Janne, a co-author of the study told Bloomberg. "It is fantastic as we can tailor our therapy to the particular genetics of a patient's cancer."

- here's the release
- check out Bloomberg's article

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Big Pharma chiefs balk at bidding against Roche for Illumina

Posted under Blog, Companies, Diagnostics, Dna Sequencing, Funding, Medical Devices, Medical Supply, Novartis, Pharmaceuticals, Roche, Sanofi, Startups, Universities, Videos by Ryan McBride

Other major pharma chiefs don't see the same opportunity in acquiring Illumina ($ILMN) as does Roche CEO Severin Schwan, whose company's $5.7 billion hostile takeover bid for the maker of DNA sequencers has generated buzz about other potential suitors. Based on their recent remarks on the situation, count out Sanofi ($SNY) CEO Chris Viehbacher and Novartis ($NVS) CEO Joe Jimenez. "It's just not the risk profile we're looking for. It could pay off well or there's a big downside," Viehbacher said, as quoted by Reuters. "You need to be part of new technologies but I think partnership is the way to go." Article