CEGX raises $5.5m in series-A

The company's founding investors, Syncona Partners and the University of Cambridge's Cambridge Enterprise, also took part in the round.

CEGX will use the fresh funding to explore commercial applications for its oxidative bisulfite (oxBS) sequencing products. The company will also invest in its research and development operations.

In conjunction with the funding round, the company has also announced the appointment of its new CEO. Fedja Bobanovic has joined as CEO from Danaher Corp, a Washington-based NYSE-listed manufacturing company.

Syncona was launched as an evergreen fund by the Wellcome Trust in January last year. Wellcome provided the firm with an initial £200m in capital.

Company
Founded in 2012 and headquartered in Cambridge, CEGX develops epigenetic tools using its oxBS-sequencing technology, which carries out sequencing of 5-hydroxymethylcytosine and 5-methylcytosine, which are both formed from the cytosine DNA base. Its technology is designed to accurately distinguish between the two.

The company launched its TrueMethyl kit last year, designed to enable accurate analysis of the DNA methylome.

People
Fedja Bobanovic is the new CEO of CEGX. Martin Murphy is the CEO of Syncona and chairman of CEGX's board of directors. New Science founding partner Somu Subramanian has joined the company's board.

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