Complete Genomics' Latest Financing "Very Difficult"
Complete Genomics expected to complete its $45 million funding round two quarters ago, but had the bad luck of starting out last September on the day Lehman Brothers failed. There was a "general freeze" in private equity investing, said Chairman and CEO Cliff Reid. "I didn't see it coming." Still, the company was able to raise as much money as it wanted to raise and was not materially damaged, he said. Its commercial gene sequencing center is now due to open in January and is expected to take the price of sequencing a genome down from $20,000 to $5,000.
24 August 2009•2 mins read
