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Cape Town biotech startup secures investment funding
Based in Cape Town, BixBio, an African genomics startup has secured an undisclosed amount of investment funding from the Illumina Accelerator.
BixBio has secured an undisclosed amount in investment funding
Not only has the tech startup secured an investment but it has also been selected as one of seven new genomic companies to join the third global funding cycle of the Illumina Accelerator.
The accelerator is focused on supporting entrepreneurs and startups that are focused on establishing innovative products and solutions in the genomic medical sector.
As part of the accelerator, the selected seven genomic companies receive access to seed investment funding and access to Illumina sequencing systems and reagents. In addition, they are provided with business guidance, genomics expertise, and fully operational lab space adjacent to Illumina’s campuses in Cambridge, UK or the San Francisco Bay Area.
According to reports, BixBio will be spending the next six months in Cambridge, benefitting from the Illumina Accelerator’s expertise, networks and global reach.
This marks the second investment that the innovative local biotech startup has secured after initially receiving funding from One Bio Venture Studio.
Founded in 2020 by entrepreneurial duo bioinformatician, James Ross and molecular biologist, Tyronne McCrindle, BixBio is a biotech startup that is focused on unlocking the potential of diverse genetic data to further develop and grow the sector of precision medicine.
BioBix utilises its proprietary AI platform to curate and establish large genetic data sets which will assist and improve the identification of disease-causing genetic variants and novel drug targets.
This provides an effective solution to the existing tedious search for disease-causing genetic variants and novel drug targets. This solution helps pharma companies develop drugs.
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Featured image: Supplied