NEW YORK, Feb. 13 - Beyond Genomics on Wednesday said it has secured $11 million in a new round of private equity financing.
This round, fed by AGTC Funds/Flagship Ventures and Gilde Biotechnology and Nutrition, brings to $21 million the total cash Beyond Genomics has pocketed since it opened its doors in November 2000.
"The infusion of new equity capital will allow us to dramatically expand our in-house drug discovery research programs, while also expanding our collaborative programs with pharmaceutical partners," said Stephen Ober, the company's president.
GenomeWeb reported last week that Waltham, Mass.-based Beyond Genomics had struck a research collaboration with DiaDexus, marking the second collaboration for the fledgling firm.
Beyond Genomics' maiden deal, inked last May with Elan Pharmaceuticals, was designed to apply its systems biology techniques to Elan's Alzheimer's research. The DiaDexus partnership, which deals with cancer, will be "a little different," Ober said.