Genome sequencing co Ultima Genomics raises $600m
Genome sequencing organization Ultima Genomics has arrive out of stealth and announced $600 million in funding. Started in 2016 by its Israeli CEO Gilad Almogy, the business has 350 staff members like 50 in Israel at advancement facilities in Rehovot and Hod Hasharon, and remarkably has managed to prevent any leaks of info from its personnel, buyers and growth centers.

The firm has now exposed that it has made a sequencing equipment, which it claims, backed up by analysis set to be printed in leading scientific periodicals, enables genome sequencing for $100, as opposed with the $500-600 it expenditures working with its rival Illumina (Nasdaq: ILMN). In addition, Ultima Genomics claims that its genomic sequencing is speedier and deeper – in other terms, it delivers more information about the genome, additional rapidly.

The positive aspects of these improvements, which are authorized via patents that the business has not however exposed, are predominantly in two directions. Through this technology, the firm estimates and hopes, it will be achievable to reach genome sequencing even down to solitary cells, and as a result diagnose sicknesses even previously than at present, mainly cancer. In addition, sequencing that is more affordable, quicker and richer in facts, will permit a great deal faster progress in tasks that assess the genetics of the genuine morbidity of massive quantities of folks, in order to map the genes concerned in various diseases.

Sources at Ultima Genomics say that the motive for the secrecy over the several years was the need to get to the place where the corporation could show its merchandise, before generating any announcements. The corporation also favored not to stir up its rivals, largely Illumina.

Ultima Genomics CEO and founder Gilad Almogy is a graduate of the IDF’s Talpiot science and leadership software. Almogy is nowadays resident in the US. He was a senior vice president at Used Components prior to founding photo voltaic energy firm Cogenra Photo voltaic in 2009, which was obtained by SunPower in 2015. In late 2016, Almogy established Ultima.

Almogy stated, “DNA is nature’s storage media and the instruction established for each and every dwelling organism, still with recent technologies, we cannot access that information at the scale wanted to genuinely comprehend advanced biology. Our architecture is intended for radical scaling, and the $100 genome is merely the initial instance of what it can deliver. We are dedicated to continuously travel down the price tag of genomic data until eventually it is routinely made use of in every single portion of the health care system.”




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Ultima Genomics CSO Doron Lipson included, “Researchers and clinicians continuously make tradeoffs in between the breadth, depth, and frequency of genomic info they acquire. By conquering the limitations of standard subsequent-technology sequencing systems, scientists can now layout experiments and medical assays that were being beforehand not possible.”

1 of the initially investors in Ultima Genomics was Israeli billionaire and Check Position founder Marius Nacht, who is also a graduate of the IDF’s Talpiot plan. Nqcht established the aMoon healthtech and lifestyle science financial commitment fund, to begin with investing his possess property ahead of starting to be an impartial fund, which in modern decades raised a $750 million expansion fund. aMoon has also invested in Ultima Genomics.

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

Full disclosure: Marius Nacht is the former everyday living husband or wife of Anat Agmon, section of the managing shareholders in “Globes.” They are involved in a private and financial dispute

Revealed by Globes, Israel organization news – en.globes.co.il – on June 2, 2022.

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


