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PathoGenetix Announces $10 Million Series C Financing

Woburn, MA (PRWEB) October 30, 2013

PathoGenetix™, Inc., a commercial-stage developer of an automated system for rapid bacterial identification, announced today that it has secured $10 million in a Series C financing to fund continued efforts to commercialize its Genome Sequence Scanning™ (GSS™) technology. The commitment was received from existing investors including Ascension Health Ventures, Excel Venture Management and HealthCare Ventures.

The GSS technology confirms and identifies microbial DNA in either complex mixtures or isolates, and provides actionable information in five hours. The funding will be used to further develop the first commercial system using the GSS technology, the RESOLUTION™ Microbial Genotyping System. The fully automated RESOLUTION System includes the instrument, bioinformatics software and database, and pathogen-specific assays, and will be commercially available in 2014 for use in food safety testing and foodborne illness outbreak investigations.

“This commitment from our investors reflects the outstanding progress we have made toward commercialization of the GSS technology. As we continue our efforts to deliver the RESOLUTION System for rapid pathogen strain typing, we also are gaining excellent market traction in the key public health and food industry sectors,” said Ann Merrifield, CEO of PathoGenetix.

The company announced collaborations with the Food and Drug Administration (FDA) in April and the U.S. Department of Agriculture’s Agricultural Research Service (USDA-ARS) in September, and is currently conducting a series of

Source: PRWeb
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