NEW YORK, June 5 – Structural bioinformatics company AlgoNomics of Ghent, Belgium, said Tuesday it had raised 1.8 million euros ($1.5 million) in a second round of private financing.
The company will use the cash injection to accelerate the research, development, and commercialization of its products.
The investors who participated in the financing round include the KU Leuven Gemma-Frisius Fund, Trustcapital Technology, Fortis Private Equity, and Investco.
The company has developed the Dead-End Elimination algorithm and provides DEE-based modeling and protein engineering technology.
Algonomics integrates generic bioinformatics tools with expert biocomputing methods and then offers services, including protein structure analysis, functional characterization, mutagenesis, and protein design and fold recognition, to biotech and pharma companies via the Internet.
The company has raised a total of over 3 million euros to date.