OpGen develops molecular tests and bioinformatics, including its Acuitas MDRO Gene tests, focused on multi-drug resistant organisms and rapid diagnostics. The company announced a $6 million financing from the Merck Global Health Innovation Fund to further its molecular information business and rapid diagnostics to guide antibiotic therapy. OpGen also acquired AdvanDx, gaining a family of FDA-approved and CE-marked rapid molecular tests that complement its Acuitas tests and bioinformatics. The company is described as early commercial-stage and aims to expand its revenue, customer base and global reach using the new tools and funding. OpGen is a portfolio company of Harris & Harris Group. OpGen, based in Gaithersburg, Md., is a commercial-stage company that provides rapid whole-genome analysis systems and services. Its products include the Argus® Whole Genome Mapping System, the Genome-Builder™ tool suite, and MapIt® services for sequence assembly, strain typing, and comparative genomics. The company says its technology improves data quality and time-to-results by providing sequence information from single DNA molecules more rapidly and less expensively than previously possible. OpGen serves genomic research centers, biodefense organizations, academic institutions, CROs, and biotech companies, with customers including the Wellcome Trust Sanger Institute, The Genome Institute at Washington University, Beijing Genomics Institute, and the University of Maryland Institute for Genome Sciences. OpGen plans to accelerate commercialization of Argus and Genome-Builder and intends to introduce a new whole human chromosome mapping application that, when combined with next-generation sequencing, can improve human genome sequencing accuracy and enable discovery of structural variations. Financially, the company has reached agreement to raise up to $17 million in a growth capital financing to support these commercial and product-development efforts. OpGen is a commercial‑phase genomics company based in Gaithersburg, Maryland. Its core product is the Argus™ Optical Mapping System, commercially launched in June 2010 to investigate microbial structure, function, diversity and genetics. The company completed a $17M Series B equity financing to support marketing of the Argus system. Proceeds will also accelerate initiatives to expand into new markets and to develop new applications that complement sequencing technologies. OpGen intends the funding to help facilitate completion of large genome mapping and finishing technologies currently under development. In conjunction with the financing, jVen Capital’s Evan Jones will lead OpGen’s board as executive chairman; he was previously a board member and served as interim CEO.

Total raised

$40M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2015