Wobble Genomics, an Edinburgh, Scotland, UK-based company providing a novel approach to RNA sequencing, raised £8.5M in funding.
The round, which brought the total amount to $10.5M, was led by Mercia Ventures and BGF and backed by IQ Capital, EOS Advisors and Old College Capital, the university’s venture fund.
The company intends to use the funds to commercialise its technology.
Led by CEO Richard Kuo, Wobble Genomics is a a University of Edinburgh spin-out that specializes in optimizing RNA and DNA sequencing efficiency for the discovery and detection of nucleic acid biomarkers. The technology could have wide-ranging applications, from drug development and research to agriculture and ecology.
The company, which currently employs a team of 10, expects to double in size in the next two years. The latest funding round brings the total amount raised to date to over £10.5m.
Commenting on the news, Richard Kuo said: “Genetic sequencing has come a long way since its inception in the 1970’s. The industry is now moving past short-read towards long-read sequencing, with long-read RNA sequencing being one of the most exciting new developments in biotechnology. We believe our solution could accelerate a new wave of biotechnology innovations. We are pleased to receive backing from some of the UK’s leading life science investors, which highlights its potential. The funding will help us to pursue our mission to reveal the unseen world of RNA and unlock exciting new applications.“
FinSMEs
07/03/2024