Genome sequencing organization Ultima Genomics has come out of stealth and announced $600 million in financing. Established in 2016 by its Israeli CEO Gilad Almogy, the firm has 350 employees like 50 in Israel at development facilities in Rehovot and Hod Hasharon, and remarkably has managed to protect against any leaks of details from its employees, buyers and progress facilities.

The enterprise has now disclosed that it has developed a sequencing equipment, which it promises, backed up by study established to be printed in leading scientific periodicals, enables genome sequencing for $100, as opposed with the $500-600 it charges working with its rival Illumina (Nasdaq: ILMN). In addition, Ultima Genomics claims that its genomic sequencing is speedier and further – in other terms, it presents a lot more info about the genome, far more immediately.

The rewards of these advancements, which are allowed through patents that the firm has not nonetheless disclosed, are predominantly in two directions. By this engineering, the organization estimates and hopes, it will be possible to accomplish genome sequencing even down to solitary cells, and therefore diagnose ailments even previously than at present, largely most cancers. In addition, sequencing that is cheaper, speedier and richer in details, will allow a lot faster progress in initiatives that evaluate the genetics of the actual morbidity of massive quantities of people today, in get to map the genes associated in different disorders.

Sources at Ultima Genomics say that the cause for the secrecy over the a long time was the drive to reach the stage exactly where the organization could demonstrate its merchandise, prior to earning any bulletins. The corporation also desired not to stir up its rivals, generally Illumina.

Ultima Genomics CEO and founder Gilad Almogy is a graduate of the IDF’s Talpiot science and management system. Almogy is today resident in the US. He was a senior vice president at Used Elements right before founding photo voltaic electrical power firm Cogenra Solar in 2009, which was acquired by SunPower in 2015. In late 2016, Almogy founded Ultima.

Almogy explained, “DNA is nature’s storage media and the instruction established for just about every residing organism, but with present systems, we won’t be able to access that facts at the scale essential to genuinely recognize intricate biology. Our architecture is intended for radical scaling, and the $100 genome is basically the initially case in point of what it can supply. We are dedicated to consistently drive down the price tag of genomic information until eventually it is routinely used in each individual section of the healthcare program.”




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Ultima Genomics CSO Doron Lipson added, “Experts and clinicians constantly make tradeoffs between the breadth, depth, and frequency of genomic info they acquire. By overcoming the limits of typical next-generation sequencing systems, scientists can now style experiments and medical assays that were being formerly unachievable.”

1 of the first traders in Ultima Genomics was Israeli billionaire and Examine Place founder Marius Nacht, who is also a graduate of the IDF’s Talpiot software. Nqcht launched the aMoon healthtech and daily life science expenditure fund, initially investing his very own belongings just before becoming an impartial fund, which in the latest decades lifted a $750 million advancement fund. aMoon has also invested in Ultima Genomics.

Other traders in Ultima Genomics incorporate D1 Funds, Andreessen Horowitz, Basic Atlantic, Khosla Ventures, Lightspeed, Playground International, and Founders Fund.

Full disclosure: Marius Nacht is the former daily life associate of Anat Agmon, aspect of the controlling shareholders in “Globes.” They are associated in a private and financial dispute

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

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


