Financings in Brief: Nanogen
This article was originally published in The Gray Sheet
Executive Summary
Nanogen: Completes $2.5 mil. round of venture capital financing, bringing the total raised this year to $9 mil. and the total raised since inception to $13 mil. The San Diego-based development-stage firm says its initial focus is on "rapid panel test opportunities in human DNA probe diagnostics." InterWest Partners of Menlo Park, California was a major investor in the current round, which is expected to fund R&D for the next 12-18 months. Separately, Nanogen says it "recently received a $2 mil., two-year grant from the U.S. Department of Commerce to fund development of an integrated microelectronic DNA diagnostic system"...