UW spinout TwinStrand has completed a $50m series B round led by Section 32, while Alexandria Venture Investments invested a third time.
TwinStrand Biosciences, a US-based genetic sequencing technology spinout of University of Washington, closed a $50m series B round yesterday led by Section 32.
Alexandria Venture Investments, a vehicle for life sciences real estate investment trust Alexandria Real Estate Equities, also took part, as did Soleus Capital, Janus Henderson Investors, Madrona Venture Group, Ridgeback Capital and unnamed existing backers.
Founded in 2015, TwinStrand has developed a biochemistry and software-based platform that identifies ultra-low frequency DNA mutations with a resolution 10,000 times greater than products currently available.
The spinout has likened the capabilities of its technology to finding a needle in a haystack. It has applications in areas such as early cancer detection and recurrence monitoring.
Michael Pellini, partner at Section 32, will join the TwinStrand board of directors.
Jesse Salk, chief scientific officer and co-founder of TwinStrand, said: “This financing is a rewarding milestone in our…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
