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Single Technologies AB. (12/4/20). "Press Release: Single Technologies AB Raises further €5 Million for 3-D Sequencing Platform". Stockholm.

Organisations Organisation Single Technologies AB
  Organisation 2 Proximion
Products Product 3-D sequencing platform
  Product 2 venture capital
Index term Index term Single Technologies–SEVERAL: investment, 202012 financing round €5m oversubscribed share issue with existing + new investors
Persons Person Strömqvist, Johan (Single Technologies 202012 CEO)
  Person 2 Landegren, Ulf
     


DNA sequencing instigator Single Technologies today announced the completion of a heavily oversubscribed €5 million share issue to existing and new shareholders. Among the new investors are Jens von Bahr, Rothesay Ltd, Carl-Henric Svanberg funded Cygnus Montanus Trust, Professor Ulf Landegren and Andreas Ehn. The funds will be used to accelerate development of the company’s 3-D sequencing platform. Stockholm Corporate Finance acted as financial advisor.

“Single Technologies is aiming for an ultrahigh-throughput solution based on our patented 3-D sequencing technology, which enables both NGS and spatial sequencing” explains CEO Johan Stroemqvist. “Already we are experiencing a massive increase in demand for NGS data across almost all aspects of the life science industry and health care, but also growing in other industries such as data storage, forensics and agriculture. The demands come from new ambitious projects such as the Human Cell Atlas, which are looking to sequence transcriptomes at the single cell level and reveal how cell types are spatially organised in whole organs. It’s further becoming clear that ultrafast reading rates will also be key to energy-efficient storage of data in DNA libraries. In the clinical field, liquid biopsies are coming into mainstrem use and again they typically require deep sequencing. This new funding will enable us to finalize automating our 3-D sequencing process, make it more robust and improve quality for both Whole Genome Sequencing (WGS) and transcriptomics applications. The ambition is to open first data sequencing production site in Stockholm by 2022.”


For more information:

Johan Strömqvist, CEO, johan@singletechnologies.com, +46735280550


About Single Technologies

Single Technologies was founded in 2014 following several years of research in single molecule imaging and biotechnology applications at the Royal Institute of Technology (KTH) in Stockholm combined with R&D in the fiber optical grating industry by the founders of the fiber optical company, Proximion.

   
Record changed: 2020-12-09

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