Alithea Genomics Secures Loan from Swiss Technology Fund

Lausanne, Switzerland, September 24, 2024 – Alithea Genomics, an emerging leader in the field of large-scale RNA sequencing and transcriptomics, announced today that it has received significant support from Switzerland’s Technology Fund in the form of a loan guarantee. The Technology Fund of the Swiss Federal Office for the Environment FOEN uses loan guarantees to support companies developing pioneering products that help reduce greenhouse gas emissions and cut resource consumption.

“The Technology Fund guarantee will significantly benefit Alithea Genomics, enabling us to bring new products to market, expand our team, and enhance our services. This support is crucial for our growth and will drive our continued disruption of the genomic research industry,” said Riccardo Dainese, CEO and co-founder of Alithea Genomics.

“Alithea’s innovative technologies can significantly reduce the consumption of plastics and reagents for their customers, compared to traditional sequencing technologies. This helps to promote more sustainable practices and minimize the environmental impact of the life sciences industry,” added Simone Riedel Riley, General Manager of the Technology Fund.

Alithea commercializes massively multiplexed library preparation solutions for RNA sequencing, most notably BRB-seq and DRUG-seq. These technologies enable the preparation of hundreds of RNA samples for sequencing in a single tube and, in the case of DRUG-seq, without the need for RNA isolation. Traditional preparation of samples for RNA sequencing is expensive and time consuming, due to the large amounts of reagents and manual operations that are typically required. Alithea’s BRB-seq technology drastically decreases the cost, time and resource consumption associated with RNA sequencing preparation.

About RNA Sequencing

RNA sequencing examines the quantity and sequences of RNA in a biological sample using next-generation sequencing (NGS). This data specifies which of the genes encoded in DNA are turned on or off, and to what extent, e.g., in a diseased cell or in response to a drug or different environmental conditions. This improved understanding of cellular biology can help guide decisions in multiple key steps of the drug discovery and development process.

About the Swiss Technology Fund

The Technology Fund offers loan guarantees up to CHF 3 million to Swiss companies whose novel products contribute to a sustainable reduction in greenhouse gas emissions. The Technology Fund is a political instrument of the Swiss government’s climate strategy. The Climate Division of the Swiss Federal Office for the Environment FOEN is responsible for its strategic governance. For more information: info@technologiefonds.ch www.technologyfund.ch.

About Alithea Genomics

Alithea Genomics is committed to developing solutions that simplify and streamline the generation of "big RNA data", which we believe will constitute the foundation of tomorrow's research and medicine. Our BRB-seq technologies and kits enable researchers to discover novel biomarkers and essential data needed to develop new drugs at a fraction of the traditional cost and time. Alithea Genomics was founded in May 2020 at the EPFL in Lausanne, Switzerland.