Albuquerque-based startup Daisy Genomics has successfully raised $2.5 million in seed funding to advance its innovative DNA and RNA sequencing technology. This capital infusion is earmarked for enhancing the company’s proprietary spectroscopy and chip technology, aiming to make genomic data generation more efficient and comprehensive for precision medicine applications.
Key Takeaways
- Daisy Genomics has raised $2.5 million in seed funding.
- The funds will accelerate the development of its DNA and RNA sequencing technology.
- The company aims to improve precision medicine through more efficient genomic data generation.
- The funding round was led by Cottonwood Technology Fund and Tramway Venture Partners.
- Daisy Genomics plans to expand its operations in Albuquerque, New Mexico.
Advancing Precision Medicine
Daisy Genomics, formerly known as Armonica Technologies, is focused on improving the way genomic data is generated. CEO Emily Milsovic highlighted the current limitations of existing methods, which often involve lengthy preparation times and incomplete data retrieval. "Our technique uses proprietary spectroscopy and chips to actually read DNA in a completely new and different way that happens to be easier and provide even more data," Milsovic stated.
This advanced technology is crucial for various healthcare applications, including targeted cancer treatments and identifying predispositions to diseases. The $2.5 million in seed funding, led by New Mexico-based firms Cottonwood Technology Fund and Tramway Venture Partners, will enable Daisy Genomics to move its prototypes to the next stage of commercialization.
Expansion and Ecosystem Growth
The company also plans to expand its collaborations with leading universities and diagnostics companies. Daisy Genomics is committed to growing within Albuquerque, bucking the trend of New Mexico startups relocating out of state. "We’re going to expand in Albuquerque because it’s really critical to us and our strategy. We really like the ecosystem of New Mexico," Milsovic added, expressing confidence that the region can become a significant biotech hub.
The biosciences sector is a key focus for growth in New Mexico, with a significant employment base across the state. Daisy Genomics’ expansion is seen as a positive development for the local and state economy.
Sources
- Albuquerque startup Daisy Genomics secures $2.5 million for precision medicine technology, abqjournal.
Founder Dinis Guarda
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