Genalyte Raises Additional $36M

What does Genalyte do?

Genalyte, is a life sciences company which is developing and commercializing innovative next gen multiplexing technology. This company has developed a new approach to immunodetection using the silicon chip method of manufacturing. Its platform uses a technology named silicon photonics for directly measuring protein binding between antigens and antibodies of nucleic acids hybridization. This company is transforming the patient-physician relationship with its trademark Maverick Detection System, which is a testing platform using microchip technology, which can be used inside physician offices by offering lab test results in less than 15 minutes.

How much Genalyte was funded?

The company raised $36M in Series D on November 20, 2016 from Redmile Group and Khosla Ventures.

Previous funding

$11.8M in Series B on March 30, 2012 from Claremont Creek Ventures

$44M in Series C on August 18, 2015 from Khosla Ventures, Claremont Creek Ventures, Redmile Group, CLI Ventures and BioMed Realty Ventures.

What is next for Genalyte?

The company plans on using the latest funding raised for completely developing its platform and for proving performance through additional clinical studies. The company is pleased at seeing its continued commitment from the investor community for cutting edge technologies in the diagnostics sector.

More about Genalyte

Genalyte was founded in 2007 by Cary Gunn. It has its headquarters in San Diego, California. The company’s vision is transforming the patient-physician relationship by bringing the doctor, the patient and the laboratory together for providing results when they matter, that is now. This platform is designed with the aim of providing test results from a complete blood sample in 15 minutes in the physician’s office. It provides diagnostic results at the time and place where they are required- when the patient is still waiting in the doctor’s office. This platform has the power of empowering physicians, improving patient’s quality of care, and reducing resource using across the healthcare system.