Genome sequencing co Ultima Genomics raises $600m
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Genome sequencing firm Ultima Genomics has occur out of stealth and announced $600 million in funding. Established in 2016 by its Israeli CEO Gilad Almogy, the organization has 350 employees which includes 50 in Israel at development facilities in Rehovot and Hod Hasharon, and remarkably has managed to stop any leaks of information from its workforce, traders and enhancement centers.

The business has now disclosed that it has designed a sequencing device, which it claims, backed up by research set to be released in foremost scientific periodicals, permits genome sequencing for $100, when compared with the $500-600 it fees employing its rival Illumina (Nasdaq: ILMN). In addition, Ultima Genomics promises that its genomic sequencing is speedier and deeper – in other phrases, it supplies far more information about the genome, a lot more rapidly.

The benefits of these enhancements, which are allowed via patents that the company has not however discovered, are mainly in two instructions. By this know-how, the firm estimates and hopes, it will be attainable to obtain genome sequencing even down to one cells, and therefore diagnose illnesses even previously than at existing, largely most cancers. In addition, sequencing that is more cost-effective, a lot quicker and richer in info, will let substantially more rapidly development in projects that evaluate the genetics of the true morbidity of massive numbers of people today, in get to map the genes concerned in a variety of diseases.

Resources at Ultima Genomics say that the purpose for the secrecy in excess of the many years was the wish to achieve the point the place the corporation could demonstrate its item, in advance of building any announcements. The firm also most popular not to stir up its rivals, primarily Illumina.

Ultima Genomics CEO and founder Gilad Almogy is a graduate of the IDF’s Talpiot science and management method. Almogy is now resident in the US. He was a senior vice president at Used Elements before founding photo voltaic electrical power firm Cogenra Photo voltaic in 2009, which was acquired by SunPower in 2015. In late 2016, Almogy established Ultima.

Almogy claimed, “DNA is nature’s storage media and the instruction set for each residing organism, nevertheless with current systems, we can’t obtain that info at the scale essential to certainly realize elaborate biology. Our architecture is intended for radical scaling, and the $100 genome is simply the to start with case in point of what it can produce. We are committed to consistently push down the cost of genomic data right up until it is routinely utilised in each individual component of the health care procedure.”




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Ultima Genomics CSO Doron Lipson additional, “Experts and clinicians continuously make tradeoffs among the breadth, depth, and frequency of genomic info they accumulate. By beating the limits of standard up coming-technology sequencing systems, scientists can now layout experiments and scientific assays that ended up formerly impossible.”

A single of the 1st buyers in Ultima Genomics was Israeli billionaire and Look at Place founder Marius Nacht, who is also a graduate of the IDF’s Talpiot system. Nqcht established the aMoon healthtech and everyday living science investment decision fund, initially investing his very own belongings before becoming an independent fund, which in new years elevated a $750 million progress fund. aMoon has also invested in Ultima Genomics.

Other buyers in Ultima Genomics include D1 Cash, Andreessen Horowitz, Basic Atlantic, Khosla Ventures, Lightspeed, Playground World wide, and Founders Fund.

Whole disclosure: Marius Nacht is the previous daily life lover of Anat Agmon, section of the managing shareholders in “Globes.” They are included in a personalized and financial dispute

Posted by Globes, Israel business information – en.globes.co.il – on June 2, 2022.

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