PLEASANTON, CA--(Marketwire - December 13, 2011) - IntegenX Inc., the leading developer of rapid human DNA identification technology and DNA sequencing library preparation systems, has secured $40 Million in Series C funding to accelerate development of the company's product pipeline and the commercialization of its RapidHIT™ 200 Human Identification System into domestic and international markets. Industry observers expect this product to be disruptive and that it will create a new market for rapid analysis of human DNA for real-time biometric identification. New investor Essex Woodlands, a leading healthcare growth equity and venture capital firm, led the financing round and joins existing investors Domain Associates, QuestMark Partners, Greenspring Associates, Cross Creek Capital, RONAholdings LLC, Samsung Ventures, and strategic partner In-Q-Tel. Joining the company's Board of Directors are Ronald Eastman of Essex Woodlands and Ben Shapiro of QuestMark Partners.
The RapidHIT 200 is a breakthrough sample-to-profile biometric system that will enable law enforcement, government agencies, and forensic laboratories worldwide to reliably and accurately provide real-time human DNA analysis. The system is the first fully automated DNA identification technology capable of producing DNA profiles from buccal swabs or other human samples in less than 90 minutes. The RapidHIT 200 will allow DNA analysis at the point of collection, such as an arrest or detention, setting a new standard in the usage of DNA profiles as an actionable biometric. By contrast, human DNA samples currently must be transported or shipped to laboratories that rely on highly trained technicians using multiple instruments for analyses taking 10 to14 hours, with access to results delayed up to 30 days or more. Already tested in multiple environments including field, office, and laboratory locations, the RapidHIT 200 and consumables system is expected to launch in the US and abroad through the first six months of 2012.
Stevan Jovanovich, Ph.D., chief executive officer of IntegenX, offered that, "The syndicate created by Essex Woodlands and our existing investors has provided significant financial resources to strengthen our commercial capabilities and successfully market a sample-to-answer system that establishes a new standard in human DNA identification. The RapidHIT 200 technology is compelling in that it will open up new markets by providing easy to use DNA profiling capabilities not available today. Clearly central to the financing was the vision of providing law enforcement, homeland security and military agencies with a system that will revolutionize the usage of human DNA identification."
According to Essex Woodlands managing director Ronald Eastman, "The management team at IntegenX has an impressive development and commercial track record. We believe that these qualifications coupled with a competitive position in a disruptive technology provide a foundation from which IntegenX can become a leader in rapid human DNA identification."
Integenx's Commercial Product Lines:
The Apollo 324 is an automated platform that relieves the next-generation sequencing bottleneck in DNA and RNA library preparation. The system makes routine the preparation of up to 32 libraries per day by significantly decreasing the most laborious aspects of the process. IntegenX is the only company to offer an automated library preparation system that supports the major next-generation sequencers and offers a selection of optimized platform-specific library preparation reagent kits.
GenTegra™ and GenPlate® products stabilize DNA, RNA, whole blood, and biological fluids, allowing dry-state room temperature storage with essentially no degradation. They uniquely facilitate storage and shipment of biological samples without the need for refrigeration, freezing, or dry ice.
About Essex Woodlands
With $2.5 billion under management, Essex Woodlands is one of the largest and oldest growth equity and venture capital firms pursuing investments in pharmaceuticals, biotechnology, medical devices, life science tools, health care services and health information technology. Since its founding in 1985, Essex Woodlands has been involved in the founding, investing, and/or management of over 100 healthcare companies ranging across all sectors, stages and geography. The team is comprised of 25 senior investment professionals with offices in Palo Alto, Houston, New York and London. For more information, please see www.ewhv.com.
About IntegenX Inc.
IntegenX headquartered in Pleasanton, CA, is a privately-held company that leads the emerging field of rapid human DNA identification. IntegenX technology platforms are the result of integration of advanced fluidics and robotic capabilities to produce sample-to-answer products for DNA-based human identity testing and forensics, next generation sequencing, biodefense, and molecular diagnostics applications. The company's expertise and intellectual property includes its patented MOVe™ valve technology as well as a portfolio of patented DNA and RNA reagents including GenTegra™ for stabilization and storage of purified DNA and RNA, GenPlate® for storage of blood samples, and patent-pending PrepX™ reagent kits for next generation sequencing library preparation. For more information, please visit www.integenx.com.