DNA chip developer centrillion raises at least $56M, signs partnerships

DNA chip developer Centrillion Technologies said that it has received a multimillion US dollar investment from medical and healthcare solutions firm WeDoctor of China as part of a strategic partnership. Separately, Centrillion Technologies Taiwan said it has received a strategic investment of an undisclosed amount from the Arm IoT Fund.

Palo Alto, California-based Centrillion also recently raised at least $56 million in private placements, according to documents filed with the US Securities and Exchange Commission last month.

Centrillion CEO Wei Zhou told GenomeWeb that the investment from WeDoctor is part of the exempt securities offerings that Centrillion disclosed in two Forms D, both filed with the SEC on July 19. He declined to provide further details about the financings. According to the forms, Centrillion sold $27.6 million of equity in one offering and is offering $31.6 million of equity in another, of which $28 million has already been sold and $3.6 million remains to be sold.

Centrillion is developing DNA chips for the in situ analysis of DNA, RNA, and proteins in two-dimensional or three-dimensional tissue sections, a technology it says can be used to analyze tumor biopsies and to study the exchange of information between cells.

Read more: https://www.genomeweb.com/microarrays-multiplexing/dna-chip-developer-centrillion-raises-least-56m-signs-partnerships#.W2FiWtIzY2w

Source: https://www.genomeweb.com/