Closely-held Clear Labs announced the successful completion of a $30 million series D financing round aimed at accelerating the development and adoption of its cutting-edge sequencing solutions.
According to Clear Labs, the financing round was led by a strategic investor, with participation from existing investors, including Counterpoint Global (Morgan Stanley), Felicis, GV, HBM Genomics, Khosla Ventures, Menlo Ventures, Nimble Ventures, Redmile Group, Wing Venture Capital, and funds and accounts advised by T. Rowe Price Associates.
The company states that the funding enables it to maintain its strong growth trajectory, focusing on innovative assays, enhancements to its Clear Dx platform, and the expansion of its next-generation sequencing solutions. Clear Labs also plans to scale operations to meet the global demand for fully automated, turnkey genomics solutions.
In a statement, Dr. Sasan Amini, PhD, co-founder and CEO of Clear Labs, said, “This is an important moment for Clear Labs – the continued investment from industry leaders who understand and support our mission validates the promise of our NGS technology to simplify and streamline sequencing workflows, redefine NGS-based workflows, and improve healthcare outcomes.”
“We have proven our approach, and this financing allows us to expand our solution to new customers and markets and ultimately, aims to improve the way labs approach NGS testing,” Dr. Amini added.
Greg, Yap, partner at Menlo Ventures commented, “Clear Labs is revolutionizing the NGS industry by providing a seamless platform that combines robotics, bioinformatics, and DNA sequencing. Their technology sets a new standard for speed, efficiency, and simplicity for NGS testing while reducing costs and making high-quality diagnostics accessible to more institutions. We’re proud to continue supporting Sasan and the Clear Labs team because we know they are delivering the clarity needed to help inform healthcare decisions and protect lives.”
In addition, Clear Labs announced the appointment of Kevin Keegan, Becton Dickinson’s vice president and global platform leader, molecular diagnostics, to its board of directors.
“Clear Labs is leading the charge in making complex genomics accessible, accurate, and impactful for healthcare institutions, and I’m eager to contribute to scaling their innovative approach to deliver accurate and near real-time results,” Mr. Keegan remarked.
“Kevin adds to our impressive pedigree of talented team members, and his industry insights and operational expertise will help Clear Labs continue to evolve to meet new needs. We’re glad that he has joined us for this next important chapter of the Clear Labs story,” Dr. Amini concluded.
