
Cambridge Epigenetix says raised $21 million, appoints Geoff Smith CEO
pharmafile | March 14, 2016 | News story | Business Services, Sales and Marketing | CEGX, CEO, Cambridge Epigenetix, fundraising, genome sequencing
Cambridge Epigenetix (CEGX) on Monday said it has raised about $21 million via Series B financing and named Geoff Smith as the chief executive.
The company, engaged in developing a gene sequencing technology, said following the fundraising GV general partner, Tom Hulme, will join CEGX’s board. The funds will be used to support commercial expansion and translational product development, the company said.
Tom Hulme said “We’ve seen how the commercialization of genome sequencing has created incredible opportunities to improve human health, and now the epigenome holds similar potential.”
New CEO Dr Geoff Smith joins CEGX from Illumina, where he served most recently as site lead and VP of Product Development.
Dr Smith said: “CEGX is today ideally positioned to catalyze the market for epigenetics – just as Solexa and Illumina did for genomics a decade ago – and I am thrilled to have joined at such a transformational time for the company and in driving the next generation of epigenetics products. We appreciate the continued support of our existing investors, and look forward to working with our new investors, whose unparalleled expertise in building data-driven businesses of substantial value will be key.”
Co-founder Bobby Yerramilli-Rao will assume the role of chairman, the company said in a statement.
Anjali Shukla
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