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Eremid secures $3m investment from CCC
FoodBev Media

FoodBev Media

28 June 2023

Eremid secures $3m investment from CCC

Eremid Genomic Services has secured an additional $3m investment from venture capital firm Coddle Creek Capital (CCC) following its acquisition in 2022. CCC's Fund 2 will support Eremid’s growth and the expansion of its clinical genomics capabilities, reinforcing its position in the biotech hub at the North Carolina Research Campus, Kannapolis, USA. As part of the expansion, Eremid said it will grow its science team, add to its range of high-specification genomic instruments and automation, and advance its GxP capabilities. It aims to increase capacity for large-scale applications and studies, including in nutritional sciences and agricultural genomics. Eremid already supports research and clinical studies using technologies from genomics companies including Illumina, PacBio, 10X Genomics, ThermoFisher and Nanostring. The additional investment from CCC enables the company to take this further with the acquisition of the PacBio Revio system, said to offer a 15-fold increase in throughput in long-read sequencing compared to existing PacBio Sequel IIe systems. Eremid said Revio will be a key component in the company’s genomics toolbox, enabling larger-scale studies and novel applications. The investment will also support a new LIMS system and supporting infrastructure. Julian Abery, chief business officer at Eremid said: “This new investment is a substantial milestone and we are grateful for Coddle Creek Capital’s unwavering support and shared commitment to advancing genomics research”. John Allen, general partner at Coddle Creek Capital added: “Our focus has always been to invest in scientific excellence and Eremid already provides access to advanced genomics expertise and technology. “Here, we are reinforcing our commitment to the company and wider genomics community, enabling Eremid to take its clinical genomics services to the next level, meeting the demand for high-end expertise and data, and supporting larger, more intricate studies.”

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