Microchip Biotechnologies Closes $18.1M Series B Financing
Summary
Microchip Biotechnologies, Inc., a Pleasanton, CA-based provider of integrated life science systems for microsample preparation and analysis, announced that it has closed a $18.1m Series B financing.The round was led by Domain Associates with participation from Samsung Ventures, Western Technology Investment Inc. (WTI), and other individuals as new investors.The exisiting backers, Rona Syndicates LLC and In-Q-Tel, both participated in the round.According to an official statement, the funds will be used for commercialization of the Apollo 100 System, a sample preparation system for Sanger DNA cycle sequencing, the development of the Apollo platform for the rapidly growing Next-Generation Sequencing market and for emerging markets in DNA-based human identification and forensics.In conjunction with the financing, Dr. Blair, Domain Associates LLC and Mr. Bill Byun, Samsung Ventures America, will join MBI’s Board.
Funding
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