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Foresite leads $55.5m Series B round in 10X Genomics

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it healthHealth-focused Foresite Capital Management has led a hefty $55.5m Series B financing round in genomics platform provider 10X Genomics.

The round included participation from Venrock, Paladin Capital Group and Morgan Stanley Investment Management, taking the company’s fundraising total to $80m.

Venrock partner Bryan Roberts said, “10X Genomics’ innovative, orthogonal approach makes use of the current installed base of sequencers to fulfill the promise of Next Generation Sequencing,”

“The company has made amazing progress and, in 2015, will allow customers to realize a decade’s worth of promises based on fundamentally and holistically advancing the field of sequencing.”

The 10X Genomics platform enables researchers to find structural variants, haplotypes, and other valuable long range information while leveraging existing sequencing workflows.

Earlier this week Lightspeed Venture Partners led a $33m Series C round in genomics-based clinical diagnostic laboratory Personalis.

Back in 2013 Foresite led a $20m Series C round for biotechnology company Sequenta.

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