Fierce Biotech July 11, 2024
Looking to be more upstart than startup, Element Biosciences has raised more than $277 million in new venture capital funding to help it take on the DNA sequencing giant located right down the road from its home in San Diego.
The proceeds will help fund the current commercialization of its Aviti benchtop genomic analyzer as well as the upcoming launch of its next-generation Aviti24 system, which also incorporates cell profiling and multi-omic capabilities.
The Fierce 15 winner’s series D haul is also a near-repeat of Element’s 2021 series C round, which topped out at $276 million. The latest financing was led by Wellington Management with additional backing from Samsung Electronics, Fidelity, Foresite Capital, T. Rowe Price Associates, Venrock and...
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