We've updated our Privacy Policy to make it clearer how we use your personal data.

We use cookies to provide you with a better experience. You can read our Cookie Policy here.

Advertisement
BioTrove Completes a $15 Million Financing Round
News

BioTrove Completes a $15 Million Financing Round

BioTrove Completes a $15 Million Financing Round
News

BioTrove Completes a $15 Million Financing Round

Read time:
 

Want a FREE PDF version of This News Story?

Complete the form below and we will email you a PDF version of "BioTrove Completes a $15 Million Financing Round "

First Name*
Last Name*
Email Address*
Country*
Company Type*
Job Function*
Would you like to receive further email communication from Technology Networks?

Technology Networks Ltd. needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy

BioTrove, Inc. has announced that the company has completed its latest fundraising by closing an additional $7 million in an oversubscribed round of venture capital funding.

This brings the total amount raised since July 2005 to $15 million. Participating investors include Catalyst Health and Technology Partners, Echelon Ventures, Fletcher Spaght, and CB Health Ventures

The proceeds of this round will accelerate the commercialization of BioTrove's OpenArray™ genomics and RapidFire™ pharmaceutical screening products.

"The investment syndicate's outstanding level of commitment reflects the progress BioTrove has made in commercializing its OpenArray™ and RapidFire™ technologies," said Joshua Phillips, Managing Director at Catalyst Health and Technology Partners and a member of BioTrove's Board of Directors.

"The rapid acceptance of BioTrove's first products based on these technologies proves the tremendous value of the platforms. We are pleased to help the company continue its rapid growth."

Robert H. Ellis, Chairman, President, and CEO of BioTrove noted, "This fundraising signifies a strong endorsement of the technology and our business strategy."

"We have had good initial market acceptance of our OpenArray™ SNP Genotyping product, and we will use the new funds to expand our OpenArray™ platform commercialization efforts."

Dr. Enrico Petrillo, General Partner of CB Health Ventures, LLC, said, "BioTrove's development of the OpenArray™ plate, based on nanofluidics, represents a technology breakthrough for the genetics research and applied genomic markets."

Advertisement