Fluidigm raises $10.7M to enhance stem-cell studies
Fluidigm, maker of chips used in genetic analysis systems, has raised $10.7 million of a targeted $14 million round of debt, warrants, rights and securities, according to a regulatory filing with the Securities and Exchange Commission. The South San Francisco company recently announced that it will be launching a new chip to speed and enhance the study and genotyping of stem cells.
Significantly, Fluidigm’s co-founder is Stephen Quake, the Stanford professor of bioengineering who recently announced that he mapped his entire genome in one week for just $48,000 — a feat that rocked the genetic services market, including DNA-reading startups 23andMe and Navigenics. Fluidigm’s new product is based on a prototype developed by Quake.
Before now, Fluidigm brought in $750,000 in grant money from the California Institute for Regenerative Medicine.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.