Nabsys closes expanded $38M equity round

Additional investment triggered by throughput-related milestone

Providence RI (November 9, 2022) Nabsys, the pioneer in electronic whole-genome mapping, announced today that it has received an additional $13 million from Hitachi High-Tech as part of an expanded equity round now totaling $38 million. The expanded equity investment was triggered as a result of a technical milestone achieved in relation to its High-Definition Genome Mapping Platform.

The milestone increases throughput by more than 10x. “This milestone is a significant advancement to throughput for the High-Definition Mapping Platform and enables complete mapping of whole human genomes at a commercially attractive price and turnaround time and superior resolution compared to current technologies”, said Barrett Bready, M.D., Nabsys founder and CEO.

Nabsys will offer this next generation High-Definition Genome Mapping Platform through an early access program in the first half of 2023.

“Hitachi High-Tech’s expanded investment into Nabsys further demonstrates our long-standing interest in providing a solution for the analysis of human genomic structural variation. We are excited to see this advancement in throughput and progress towards the commercialization of this valuable platform” said Tsuyoshi Ogino, general manager, Molecular Research & Diagnostic Division at Hitachi High-Tech America.

“Structural variants (SVs) account for the majority of genomic variation in the human genome and despite implications in disease research and diagnosis, SVs are largely ignored due to relatively high cost, high computational burden, and inadequate performance of current tools,” said Bready, “once commercial, users will be able to increase the frequency with which they analyze structural variation.”

Nabsys featured the newly updated whole genome mapping instrument last week at the American Society of Human Genetics annual meeting in Los Angeles, California.

About Nabsys:

The Nabsys mission is to advance the understanding of disease, increase diagnostic yield, and improve patient outcomes by enabling routine, accurate, cost-effective analysis of genomic structural variation. Located in Providence, RI, Nabsys employs a growing interdisciplinary group of dedicated scientists, engineers, and other professionals committed to the advancement of genomic analysis.

About Hitachi High-Tech:

Hitachi High-Tech Corporation, a wholly-owned subsidiary of Hitachi Ltd., headquartered in Tokyo, Japan, is engaged in activities in a broad range of business fields, including manufacture and sales of analytical systems, electron microscopes, in vitro diagnostic systems, and semiconductor manufacturing equipment, and providing high value-added solutions in fields of social & industrial infrastructures and mobility, etc.

Contact:

Nabsys 2.0
info@nabsys.com

Nabsys reveals new details about their next generation whole-genome mapping technology and partnership with Hitachi High-Tech

In whitepapers posted to the company’s website this week, Nabsys has provided new details into its next generation HD-Mapping™ platform. The platform provides a high-resolution electronic mapping instrument complete with solid-state nanochannel-based detectors and improved labelling chemistry with Hitachi High-Tech’s Human Chromosome Explorer™ (HCE) software as an analysis pipeline. The resulting platform provides a solution for high resolution human genome structural variation (SV) analysis with applications in disease research, clinical diagnostics, and pharmaceutical development, all while reducing complexity, consumable requirements, and associated costs.

A simple workflow is described that includes a sample preparation step to label long strands of DNA isolated from a human genome sample and use of a compact instrument the size of a desktop computer equipped with an electronic detection mechanism for reading solid-state nanochannels. The labeled DNA is passed through the nanochannels and changes in electrical resistance are detected at each label. The resultant reads contain information about the location of these labels on very long DNA molecules. Using Hitachi’s HCE analysis pipeline, reads are ultimately assembled and aligned in silico to a reference genome and any changes in alignment are called and reported as SVs.

The papers go on to claim that the combination of electronic detection, solid-state nanochannels, and optimized labelling protocols provide high signal-to-noise ratios and nearly eliminate crosstalk. The high resolution associated with electronic detection allows for the reliable detection of variants in the 300-1000bp range, as well as much larger structural variants.

“Every time I see the data, I get excited. I’m not aware of any other single-molecule bioanalytical system that achieves such a high signal-to-noise ratio, especially given the speed at which the molecules are moving through the nanochannels.” stated Nabsys CTO, John Oliver. “The accuracy and overall cost in using the platform represent a step change improvement to whole-genome mapping and provides a solution for researchers, clinical diagnostic test developers, and pharmaceutical scientists studying SVs within the human genome.”

Developed by Hitachi High-Tech, HCE is a whole-genome assembly and SV analysis pipeline that runs on Google Cloud. Results are visualized and reported through a browser-based interface.  When combined with HD-Mapping, it creates a system that detects and visualizes SV small enough to be complementary to short-read sequencing and those large enough to constitute chromosomal rearrangements. .

“HD-Mapping’s use of electronic detection eliminates the challenges of optical diffraction and allows for the detection of labels in closer proximity to one another. The higher resolution data is used by HCE to decrease the limit of detection for variants to the 300bp range while the long reads assemble nicely in HCE to elucidate large SV and repeats.”, stated Hitachi R&D lead, Tateo Nagai.

Hitachi will feature Nabsys at booth #833 during ASHG 2022 where Nabsys will showcase the HD-Mapping platform.

 

About Nabsys 2.0:

The Nabsys mission is to advance the understanding of disease, increase diagnostic yield, and improve patient outcomes by enabling routine, accurate, cost-effective analysis of genomic structural variation. Located in Providence, RI, Nabsys employs a growing interdisciplinary group of dedicated scientists, engineers, and other professionals committed to the advancement of genomic analysis.

 

About Hitachi:

Hitachi High-Tech Corporation, a wholly-owned subsidiary of Hitachi Ltd., headquartered in Tokyo, Japan, is engaged in activities in a broad range of business fields, including manufacture and sales of analytical systems, electron microscopes, in vitro diagnostic systems, and semiconductor manufacturing equipment, and providing high value-added solutions in fields of social & industrial infrastructures and mobility, etc.

 

Contact:

Nabsys 2.0

info@nabsys.com

Justin Bingham

Justin Bingham Joins Nabsys as Chief Commercial Officer

PROVIDENCE RI (October 19, 2022) Nabsys, the pioneer in electronic whole-genome mapping, announced that Justin Bingham has joined the company as its Chief Commercial Officer.

“Justin brings highly relevant experience to Nabsys, both as a consumer of whole-genome technology and data and as a builder of commercial life sciences organizations,” said Barrett Bready, MD, Nabsys Founder and CEO. “Retaining his leadership as our Chief Commercial Officer is a critical next step as we position electronic whole-genome mapping to address challenges in human health.”

Prior to Nabsys, Justin served on the executive leadership team at CENTOGENE, GmbH as the Senior Vice President of Business Development. “It was during my tenure at CENTOGENE where I was exposed to the huge unmet need for higher resolution whole-genome mapping to better inform and improve clinical diagnostics,” said Bingham. “Current technologies struggle to cost effectively analyze the genome for structural variation. I believe Nabsys is bringing forward technology that will dramatically improve our understanding of structural variants and provide new insights into the underlying causes of disease.”

Justin also has experience launching instruments into the genomics space. He played a pivotal role in the commercialization of the world’s first benchtop DNA assembly instrument, the BioXp system, while at SGI-DNA, Inc. where he was responsible for business development, global sales and marketing. “Nabsys will rely on Justin’s understanding of how to efficiently build and scale a strong commercial organization that meets the needs of the company and our path to growth,” said Kevin DeGeeter, CFO, Nabsys.

About Nabsys:
The Nabsys mission is to advance the understanding of disease, increase diagnostic yield, and improve patient outcomes by enabling routine, accurate, cost-effective analysis of genomic structural variation (SV). In the past decade, scientists have determined that SVs account for the majority of human genomic variation. However, SV research has been limited due to relatively high cost, high computational burden, and inadequate performance of current tools. By employing electronic detection, Nabsys’ whole-genome mapping solution, HD-Mapping™, can offer cost-effective hardware and consumables while delivering high-resolution single-molecule measurements. Located in Providence, RI, Nabsys employs a growing interdisciplinary group of dedicated scientists, engineers, and other professionals committed to the advancement of genomic analysis.

Contact: info@nabsys.com

Kevin DeGeeter Joins Nabsys as Chief Financial Officer

PROVIDENCE RI (July 18, 2022)  Nabsys, the pioneer in electronic whole-genome mapping, announced the appointment of Kevin DeGeeter as Chief Financial Officer.

“I am excited to welcome Kevin to the executive team,” said Barrett Bready, MD, Nabsys Founder and CEO. “Kevin’s deep understanding of the genomics space, as well as his reputation among investors and operators as an important source of tools and diagnostics knowledge and analysis, will be important assets.”

Kevin DeGeeter has over two decades of buy- and sell-side equity research experience evaluating life science tools and biotechnology companies. He joins Nabsys from Oppenheimer & Co Inc. where he served as Managing Director and Senior Equity Research Analyst for Diagnostics & Biotechnology. Previously he worked at J.P Morgan, Paine Webber, Ladenburg Thalmann and Manning & Napier Advisors.

Michael Margolis, Head of Oppenheimer’s leading Life Science Investment Banking practice, commented “We are looking forward to engaging with Kevin in his new role at Nabsys as we continue to focus on this very important segment of the Life Science space. Investor interest in Tools and Diagnostics is growing rapidly as recognition for the important innovations that are being made continue to enhance the potential for lifesaving diagnostics and treatments.”

John Parks, Director of Research for Oppenheimer commented, “Over his six years as a core member of Oppenheimer’s highly regarded Life Science / Biotechnology research team, Kevin has been a strong advocate for deep and thorough coverage of the most important companies in Tools and Diagnostics. His expertise has been a valuable contribution to Oppenheimer’s successful leadership in generating investor interest in the companies that lead research and development for this important area of life sciences.”

“There remains important unmet need for new technologies to assess structural variants and other genomic analysis not served by short read sequencing,” noted Kevin DeGeeter. “I believe electronic whole-genome mapping offers the promise of better resolution with lower cost than alternative modalities and look forward to supporting the Nabsys team and global strategic partners to bring electronic whole-genome mapping to researchers and eventually tapping the clinical diagnostics market.”

About Nabsys:
The Nabsys mission is to advance the understanding of disease, increase diagnostic yield, and improve patient outcomes by enabling routine, accurate, cost-effective analysis of genomic structural variation (SV). In the past decade, scientists have determined that SVs account for the majority of human genomic variation. However, SV research has been limited due to relatively high cost, high computational burden, and inadequate performance of current tools. By employing electronic detection, Nabsys’ whole-genome mapping solution, HD-Mapping™, can offer cost-effective hardware and consumables while delivering high-resolution single-molecule measurements. Located in Providence, RI, Nabsys employs a growing interdisciplinary group of dedicated scientists, engineers, and other professionals committed to the advancement of genomic analysis.

About Oppenheimer:
Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high net-worth individuals, families, corporate executives, local governments, businesses and institutions.

Contact: info@nabsys.com

Nabsys Raises $25 Million Equity Round

Funding will fuel further development and commercialization of Nabsys’ second-generation High-Definition Mapping platform.

PROVIDENCE RI (April 13, 2022) Nabsys, the pioneer in electronic whole-genome mapping, announced today that it has closed on $25 million in funding with strategic partner Hitachi High-Tech Corporation. The deal also provides for an additional $13 million upon achieving certain milestones.

The funding will be used to complete development and commercialization of the second-generation of its High-Definition Mapping™ (HDM™) platform. The company will increase headcount in R&D, manufacturing, and global commercial operations.

“Hitachi High-Tech has had a long-standing interest in the analysis of human structural variation and has been in search of a technology to meet the significant market need,” said Tsuyoshi Ogino, general manager, Molecular Research & Diagnostics Division at Hitachi High-Tech America, Inc., and Nabsys board member. “We believe the Nabsys HDM platform is the ideal solution for that important unmet need.”

Barrett Bready, M.D., Nabsys founder, and CEO said Hitachi High-Tech’s investment will help enable Nabsys to make the analysis of genome-wide human structural variation widely available, accurate, and cost effective.

“Our first-generation HDM instruments have been in customers’ hands for over a year now and have been very well-received,” said Bready. “We are excited to capitalize on the highly scalable nature of our high-speed, single-molecule, electronic detection to increase throughput and expand the application space.”

Structural Variation Challenges:

In the past decade, scientists have determined that structural variants (SVs) account for the majority of human genomic variation. However, SV research has been limited due to relatively high cost, high computational burden, and inadequate performance of current tools. Long-read technologies are expensive and lack sufficient read-length, while optical mapping technologies have inherent limitations in resolution.

Nabsys HD-Mapping Solution:

Nabsys is the pioneer in high-definition electronic genome mapping. By employing electronic detection, HD-Mapping can offer cost-effective hardware and consumables while delivering high-resolution single-molecule measurements. The Nabsys HDM platform makes long-range structural information accessible to every laboratory.

About Nabsys:

The Nabsys mission is to advance the understanding of disease, increase diagnostic yield, and improve patient outcomes by enabling routine, accurate, cost-effective analysis of genomic structural variation. Located in Providence, RI, Nabsys employs a growing interdisciplinary group of dedicated scientists, engineers, and other professionals committed to the advancement of genomic analysis.

About Hitachi High-Tech:

Hitachi High-Tech Corporation, a wholly-owned subsidiary of Hitachi Ltd., headquartered in Tokyo, Japan, is engaged in activities in a broad range of business fields, including manufacture and sales of analytical systems, electron microscopes, in vitro diagnostic systems, and semiconductor manufacturing equipment, and providing high value-added solutions in fields of social & industrial infrastructures and mobility, etc.

 

Contact:
Nabsys
Brian Paras VP, Commercial Development
paras@nabsys.com

Nabsys Releases New Nanodetector Chips, Increasing Throughput of its HD-Mapping Platform

Nabsys

August 11, 2021 / Providence, RI: Nabsys, the pioneer in electronic whole-genome mapping, announces the release of its next-generation HDM-5 Chip™ for HD-Mapping™. This most recent development has contributed to a 10-fold increase in throughput over the last nine months. Customers are receiving shipments of these next-generation chips this month.

CEO and Founder, Barrett Bready said, “The release of our new higher-throughput HDM-5 Chip clearly demonstrates the scalability of HD-Mapping. We have addressed all technical challenges associated with electronic detector scaling, clearing the path to routine, accurate, cost-effective analysis of genomic structural variation, including next-generation cytogenomics.” John Oliver, Nabsys CTO, added, “This is really just the beginning for electronic whole-genome mapping. Nabsys is pushing the boundaries of DNA mapping by employing electronic detection to achieve higher resolution than is possible with other technologies. We are continually innovating with HD-Mapping to further increase throughput, explore new application areas, and advance data analysis tools while reducing per sample cost.”

About HD-Mapping
These characteristics make HDM an ideal first-line approach for a variety of applications for small and large genomes, including genome assembly, structural variant analysis, and strain identification. The HD-Mapping system is a total whole-genome mapping solution including the HD-Mapping instrument, electronic nanodetector chips, sample-preparation kits, run reagents, and advanced analytical software tools.

Contact:
Nabsys
Brian Paras VP, Commercial Development
info@nabsys.com

HD-Mapping Systems Shipping to Customers

Nabsys is now shipping HD-Mapping systems in fulfillment of customer orders.

HD-Mapping provides high-resolution, high-definition electronic detection that supports a variety of genomic mapping applications, across a wide range of organisms.

For product information, availability, and pricing please contact us at info@Nabsys.com.

Learn more about High-Definition whole-genome mapping at www.Nabsys.com

3 HD-Mapping systems shipping to customer labs

Nabsys Raises $21 Million Equity Round Led by Hitachi High-Technologies

PROVIDENCE RI (October 2, 2019) Nabsys, the pioneer in high-definition genome mapping, announced today that it has closed on a $21 million equity round led by Hitachi High-Technologies Corporation.

Nabsys will use the funding to finalize product development and support global commercial launch of their HD-Mapping™ whole-genome electronic mapping platform.

HD-Mapping has applications in a wide variety of key research applications, including de novo assembly, structural variant analysis, metagenome characterization, and strain identification, as well as in next-generation cytogenetics. Nabsys electronic mapping enables routine, scalable analysis of genomic structural variation.

Mr. Tsuyoshi Ogino, General Manager, Innovation Division at Hitachi High-Technologies said, “There is a strong need for accurate, robust, and scalable genomic structural analysis for cytogenetic, cancer, and infectious disease research. Hitachi High-Technologies determined that the Nabsys HD-Mapping approach effectively supports this need. The company is also a strong fit with our strategy for continued advanced R&D with strategic investments in life sciences.”

“This investment round will help Nabsys fulfill its mission to make the analysis of large- and intermediate-scale genomic variation as routine, accurate, and cost-effective as the analysis of single-nucleotide variation,” said Barrett Bready, M.D., Founder and CEO at Nabsys.

About Hitachi High-Technologies Corporation:
Hitachi High-Technologies Corporation, headquartered in Tokyo, Japan, is engaged in activities in a broad range of fields, including Analytical & Medical Solutions (manufacture and sales of clinical analyzers, biotechnology products, and analytical instruments), Nano-Technology Solutions (manufacture and sales of semiconductor manufacturing equipment and analysis equipment), and Industrial Solutions (providing high value-added solutions in fields of social & industrial infrastructures and mobility, etc.). The company’s consolidated revenues for FY 2018 were approx. JPY 731.1 billion [USD 6.6 billion]. For further information, visit https://www.hitachi-hightech.com/global/

About Nabsys:
Nabsys is the leader in high-definition electronic genome mapping. Nabsys uses proprietary electronic nanochannel detectors to analyze long DNA molecules at high velocity. Nabsys HD-Mapping™ whole genome maps with sub-diffraction-limit resolution, provide compelling advantages for the analysis of genomic structural variation, genome assembly, and high-specificity strain identification. For further information, visit http://www.nabsys.com

 

Contact:
Nabsys
Brian Paras VP, Commercial Development
info@nabsys.com