AsiaNet 89757

REDWOOD CITY, Calif., May 27, 2021 /PRNewswire=KYODO JBN/--

-- Capital will enable continued advancement of GenapSys' electronic-based,

next-generation sequencing platform

GenapSys, Inc. (GenapSys), a company developing a highly accurate and scalable

electronic sequencing platform, today announced it has raised $70 million in a

Series D equity financing. Investors in the round included Farallon Capital

Management, L.L.C., Soleus Capital, an affiliate of PBM Capital, and additional

new investors. Proceeds from this financing will be used to continue advancing

GenapSys' semiconductor based next-generation sequencing (NGS) platform.

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"We are delighted to partner with this world-class group of investors who

together share our broad strategic vision of delivering an affordable, scalable

genomic sequencing ecosystem that empowers both academic and clinical

research," said Jason Myers, Ph.D., Chief Executive Officer of GenapSys. "We

look forward to leveraging our Board's strategic insight to accelerate new

product development, particularly within the oncology arena."

GenapSys Founder and Chairman Dr. Hesaam Esfandyarpour added, "This latest

round of funding is a testament to the strength and momentum of GenapSys'

technology. The world is just beginning to unlock the immense potential of

genomic sequencing and this capital will help fuel GenapSys' next stage of

growth. We're honored to welcome these world-class investors and expand the

GenapSys Board of Directors."

Additionally, Bob Zollars and a representative of Farallon Capital have been

appointed to GenapSys' Board of Directors.

Bob Zollars added, "GenapSys' development of an affordable and highly scalable

genomic sequencing ecosystem has the potential to transform the human

condition. With the Company's sequencing technology, researchers and clinicians

that previously lacked access to sequencing options will be enabled to better

understand and treat disease. I am excited to serve as the Company's lead

independent director."

Bob Zollars brings over 35 years of leadership experience in healthcare

technology and services with a proven track record of growth and value

creation. Mr. Zollars is a senior advisor at Frazier Healthcare Partners, in

their growth equity business. Previously, Mr. Zollars was group president at

Cardinal Health and was responsible for five of their subsidiary companies, he

also led four different operating divisions at Baxter Healthcare. He was

chairman and CEO of Vocera Communications, Inc. and was previously chairman and

CEO of Neoforma, where he led both companies through successful IPO's. He

serves on the boards of Change Healthcare, Five 9, Kate Farms, and Parata

Systems. Mr. Zollars received his M.B.A. in Finance from John F. Kennedy

University and graduated magna cum laude with a B.S. in Marketing from Arizona

State University where he is now Chair of the Trustees.    

About GenapSys, Inc.

GenapSys is a company focused on the advancement of universal access to genomic

information by delivering an affordable, scalable, and accurate genomic

sequencing ecosystem that empowers both academic and clinical research

applications. Its system leverages a proprietary electrical microfluidic

sequencing chip with a scalable number of detectors, allowing for a wide range

of applications. GenapSys is headquartered in Redwood City, CA.

GenapSys products are provided for Research Use Only. Not for use in diagnostic

procedures.

For Media Inquiries:

Surekha Karudapuram, VP, Product Management and Marketing

surekha.karudapuram@genapsys.com

For Investor Inquiries:

David Deuchler, CFA

Managing Director |Gilmartin Group

david@gilmartinir.com

SOURCE: GenapSys