Biotechnology company raised amount from 12 investors.
COLLEGE PARK, MD, CosmosID, a biotechnology company in the Mtech Technology Advancement Program incubator, has raised $1.22 million from a $4 million equity offering, taking in the amount from 12 investors. The developer of high-speed genome identification technology launched a $3 million offering in 2008.
CosmosID has developed patent-pending software called GENIUS (Genomics Identification Universal System) that drives its end-to-end, metagenomics process, Cloud SequencingTM, for identifying pathogens present in clinical (medical), environmental (water, soil, biofuel or food), or other research (laboratory) samples. Cloud Sequencing is a single, rapid and accurate test that is universal for all types of pathogens, including bacteria, viruses, parasites, and fungi.
CosmosID's technology employs a proprietary approach based on fundamentals of bioinformatics and computational biology, combined with genomics, microbiology, and mathematical algorithms, and serves organizations and companies whose missions include medical diagnosis, public health (food and water safety), biosecurity, bioforensics, force protection and force health protection, according to Colwell.
CosmosID's strong pipeline of government grants, as well as private funding, has fueled its product development since 2007. That pipeline includes funding from the Department of Homeland Security, the National Biodefense Analysis and Countermeasures Center (NBACC), and the Edgewood Chemical Biological Center.
About the Maryland Technology Enterprise Institute (Mtech) (www.mtech.umd.edu)
The mission of Mtech is to educate the next generation of technology entrepreneurs, create successful technology ventures, and connect Maryland companies with university resources to help them succeed. Founded in 1983, Mtech has had a $25.7 billion impact on the Maryland economy and helped create or retain more than 5,300 jobs. Top-selling products such as MedImmune's SynagisÂ®, which protects infants from a deadly respiratory disease, and Hughes Communications' HughesNetÂ®, which brings satellite-based, high-speed Internet access to the world, were developed through or enhanced by our programs. Billion dollar companies such as Martek Biosciences and Digene Corporation graduated from our incubator. Mtech offers three experiential learning programs and 30 entrepreneurship and innovation courses, served to 1,244 enrollees in 2010, at the pre-college, undergraduate, graduate and executive education levels.
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