July 6, 2022

Y M L P-298

It Must Be Business

Genome sequencing co Ultima Genomics raises $600m

3 min read
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Genome sequencing firm Ultima Genomics has come out of stealth and declared $600 million in financing. Launched in 2016 by its Israeli CEO Gilad Almogy, the business has 350 employees which includes 50 in Israel at development facilities in Rehovot and Hod Hasharon, and remarkably has managed to avoid any leaks of facts from its employees, buyers and progress facilities.

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The firm has now exposed that it has created a sequencing device, which it statements, backed up by study set to be released in major scientific periodicals, makes it possible for genome sequencing for $100, in contrast with the $500-600 it expenditures making use of its rival Illumina (Nasdaq: ILMN). In addition, Ultima Genomics statements that its genomic sequencing is more quickly and deeper – in other words and phrases, it gives additional info about the genome, more immediately.

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The added benefits of these enhancements, which are authorized by way of patents that the enterprise has not but exposed, are predominantly in two directions. As a result of this technologies, the firm estimates and hopes, it will be attainable to obtain genome sequencing even down to one cells, and so diagnose ailments even before than at present, primarily cancer. In addition, sequencing that is much less expensive, faster and richer in data, will permit much quicker progress in tasks that compare the genetics of the real morbidity of substantial numbers of men and women, in get to map the genes included in numerous illnesses.

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Sources at Ultima Genomics say that the explanation for the secrecy around the a long time was the desire to arrive at the stage where the company could prove its item, prior to generating any bulletins. The enterprise also most popular not to stir up its rivals, mainly Illumina.

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Ultima Genomics CEO and founder Gilad Almogy is a graduate of the IDF’s Talpiot science and management program. Almogy is today resident in the US. He was a senior vice president at Utilized Materials in advance of founding solar electrical power organization Cogenra Photo voltaic in 2009, which was obtained by SunPower in 2015. In late 2016, Almogy started Ultima.

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Almogy claimed, “DNA is nature’s storage media and the instruction set for each and every residing organism, but with existing systems, we can’t entry that information at the scale required to certainly have an understanding of advanced biology. Our architecture is supposed for radical scaling, and the $100 genome is merely the to start with illustration of what it can supply. We are committed to consistently travel down the value of genomic info right up until it is routinely utilized in every section of the health care method.”

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Ultima Genomics CSO Doron Lipson extra, “Researchers and clinicians continuously make tradeoffs concerning the breadth, depth, and frequency of genomic info they gather. By conquering the limitations of regular upcoming-generation sequencing systems, researchers can now design and style experiments and scientific assays that have been previously unattainable.”

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A person of the to start with traders in Ultima Genomics was Israeli billionaire and Look at Place founder Marius Nacht, who is also a graduate of the IDF’s Talpiot software. Nqcht founded the aMoon healthtech and everyday living science investment fund, at first investing his have property ahead of starting to be an independent fund, which in new decades elevated a $750 million advancement fund. aMoon has also invested in Ultima Genomics.

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Other investors in Ultima Genomics involve D1 Money, Andreessen Horowitz, Basic Atlantic, Khosla Ventures, Lightspeed, Playground International, and Founders Fund.

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Comprehensive disclosure: Marius Nacht is the previous lifestyle companion of Anat Agmon, aspect of the controlling shareholders in “Globes.” They are concerned in a personalized and economic dispute

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Released by Globes, Israel enterprise news – en.globes.co.il – on June 2, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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