Jun 1, 2022 - Economy

Ultima Genomics raises $600 million to lower genome sequencing costs

Dan Primack

Illustration of a double helix made out of a $100 bill. — Illustration: Gabriella Turrisi/Axios

Ultima Genomics, a Newark Calif.-based gene sequencing startup, exited stealth with around $600 million in venture capital funding.

Why it matters: Ultima claims it can sequence an entire genome for just $100, which is an affordability advancement that could significantly accelerate genomic research. It's also seeking to challenge Illumina, an incumbent valued at more than $37 billion.

Investors include General Atlantic, Andreessen Horowitz, D1 Capital, Khosla Ventures, Lightspeed Venture Partners, Marius Nacht, aMoon, Playground Global and Founders Fund.

The big picture, per Bloomberg: "In 2001, sequencing one person’s genome cost $95 million, according to data from the National Human Genome Research Institute. By last year, that cost had fallen to $562... The price of sequencing a genome will have to come down even further to enable data analysis at the scale dreamed of by scientists."

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Ultima Genomics raises $600 million to lower genome sequencing costs

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