FLGT - Fulgent Genetics invests $40M in Spatial Genomics' series A funding round

Fulgent Genetics (NASDAQ:FLGT) announced a strategic investment in Spatial Genomics, a developer of sequential fluorescence in situ hybridization (seqFISH) technology. FLGT is investing up to $40M to lead Spatial's series A financing, which totals ~$56M and also includes investments by 12 West Capital and other investors. Fulgent is also entering into commercial arrangements with Spatial to integrate the seqFISH technology into FLGT’s genomic testing platform. FLGT expects to add Spatial's multiomics analysis platform to the suite of lab services available to its pharmaceutical and clinical research customer base. Spatial will use the funds from its series A round to accelerate commercialization of its seqFISH technology platform, grow seqFISH laboratory services group, and aggressively expand its workforce.

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Fulgent Genetics invests $40M in Spatial Genomics' series A funding round