McGovern Biotech Startup Closes $2.2 Million Pre-Seed Round
Inso Biosciences, a biotech startup based out of Cornell University and currently incubating at the McGovern Family Center for Venture Development in the Life Sciences, is continuing to gain recognition and revolutionize the world of genomic analysis – and raise millions of dollars along the way.
Genomics, the study of genes and DNA, is the key to unlocking the secrets to disease prediction, identification, and treatment. One of the largest obstacles that currently exists when preparing a sample for genomic analysis is the amount of time it takes to purify and extract DNA. Even for the most expert scientists, the nature of the process means it takes hours to complete.
That’s where Inso Bio comes in — their innovative micropillar array technology extracts and purifies DNA while keeping it in the sample solution, allowing for a sample to be processed 8-10x faster. This makes it possible for genomic analytics researchers to drastically increase the volume of samples they can process and improve the efficiency of their research.
This work is gaining the attention of investors and researchers alike. Most recently, Inso Bio completed a priced equity funding round, raising them $2.275 million in pre-seed financing. The round was led by 2048 Ventures, with participation from SOSV, Whitecap Venture Partners, Ataraxia Ventures, and CRCM Ventures. The company also participated in IndieBio NY, a business accelerator and investment program that works with startups on a mission to improve “human and planetary health.”
“We’re extremely excited to have become venture-backed after taking 2 years to demonstrate tech feasibility, find potential customers, and now be in the position to begin hiring and developing our first product to service these early-adopting customers,” said Harvey Tian, founder and CEO of Inso Bio.
Deeply rooted in the Southern Tier entrepreneurial ecosystem, Inso Bio has taken part in several startup initiatives at Cornell University, including completing a UNY I-Corps regional course and participating in the SBIR/STTR Assistance Program at the Center for Regional Economic Advancement.
Now that they’ve secured financing, the Inso Bio team — which includes Cornell PhD Adam Bisogni and professor emeritus Harold Craighead — is hard at work finalizing their tech and preparing for a commercial launch.
“We have a long way to go, but we are also proud of our Cornell origins both in terms of a fully Cornell PhD founding team, as well as Cornell IP invented throughout my graduate school years,” said Tian. “We believe in the importance of genetics and genomics, and we aim to contribute towards improving the fundamental infrastructure that needs to be built at scale for those applications of tomorrow to be realized.”