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Ardais Raises $13.4 Million in Series C

NEW YORK, Feb. 25 - Ardais, of Lexington, Mass., said today it has raised $13.4 million in a series C round of financing.  

 

The clinical genomics company plans to use the proceeds of its financing to "grow the company's business, and expand its clinical genomics capabilities to enhance productivity throughout the continuum of drug discovery and development," CEO Gregory Phelps said in a statement.

 

The financing was led by a group of existing investors, including The Kaufmann Fund, Advanced Technology Ventures, Advent Health Care and Life Sciences, EGS Healthcare Capital Partners, Bessemer Venture Partners, Pequot Private Equity Fund, BioVentures Investors, and Silicon Valley Bancshares.

 

This brings the total the company has raised to over $47 million. In March 2001, the company closed a $33.5 million series B round of financing, following its initial seed round in 2000.

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