# Purigen Biosystems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/purigen-biosystems

- Industry: Biotechnology
- Headquarters: Pleasanton, US
- Website: www.purigenbio.com
- Total disclosed funding: $55M
- Latest round: Series B (Mar 22, 2019)
- Investors on record: 6

## About

Purigen Biosystems develops advanced genetic analysis solutions, specializing in the rapid extraction of high-quality nucleic acids through their Ionic™ platform, enhancing workflows in molecular diagnostics and research.Founded in 2012 and headquartered in Pleasanton, US, Purigen Biosystems focuses on simplifying genetic analysis. The company was acquired by BioNano Genomics, Inc. in November 2022 for USD 64 mn. Co-founders Juan Santiago and Klint Rose, along with CEO Barney Saunders, have extensive backgrounds in biotechnology, but specific prior ventures are not mentioned. Purigen has completed a total of 8 deals since its inception, with the latest funding round being an Add-on Trade Sale, leading to a total capital raised of USD 34.40 mn.Purigen Biosystems specializes in advanced genetic analysis solutions, primarily focused on its flagship product, the Ionic™ system. This innovative platform enables rapid and efficient extraction of high-quality nucleic acids from a variety of sample types, including whole blood, saliva, and tissue. The Ionic™ system is designed to enhance workflows in molecular diagnostics, research, and clinical labs by streamlining the preparation process and significantly reducing time-to-result. Purigen's solutions target a diverse clientele that includes clinical laboratories, research institutions, and biotechnology companies operating globally, with a notable presence in North America and Europe. The company’s products are intended to solve critical challenges in genomic research and personalized medicine, facilitating accurate and timely insights into genetic data.Purigen Biosystems generates revenue through a combination of direct sales and partnerships with research institutions and clinical laboratories. The company's business model revolves around the sale of its Ionic™ system and associated consumables, which may be structured as one-time purchases or recurring orders based on laboratory needs. Customers typically engage in transactions involving the upfront acquisition of the system, followed by ongoing procurement of proprietary reagents and kits necessary for the extraction and analysis processes. Pricing plans for these products reflect their innovative technology and the value they add to genomic workflows, ensuring competitive positioning in the market. Additionally, partnerships with research entities may further enhance revenue through collaborative projects and joint ventures focused on advancing genomic science.Following the acquisition by BioNano Genomics, Inc. in November 2022, Purigen Biosystems aims to advance its product offerings, particularly in simplifying DNA isolation for Optical Genome Mapping (OGM). The company plans to enhance its existing Ionic™ platform for new applications utilizing Isotachophoresis (ITP), targeting research and clinical markets in North America and Europe. Funding from the acquisition will facilitate the development of these new technological capabilities, addressing challenging sample types and expanding their market reach.

## Funding rounds

- Series B, Mar 22, 2019, $34M — 5AM Ventures, Agilent Technologies, Roche Venture Fund, Cota Capital
- Series A, Sep 8, 2017, $7.8M — 5AM Ventures, Roche Venture Fund
- Series A, Mar 4, 2016, $13M — 5AM Ventures, Roche Venture Fund, Western Investments Capital, Stanford-StartX Fund

## Investors

- 5AM Ventures (https://capitalatlas.ai/funds/5am-ventures) — Series A, Series B
- Roche Venture Fund (https://capitalatlas.ai/funds/roche-venture-fund) — Series A, Series B
- Western Investments Capital — Series A
- Stanford-StartX Fund — Series A
- Agilent Technologies — Series B
- Cota Capital (https://capitalatlas.ai/funds/cota-capital) — Series B