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BG Medicine Closes $40M Round of Financing

NEW YORK (GenomeWeb News) – BG Medicine said today that it has raised $40 million in a Series D financing.
The privately held molecular diagnostics firm said the funding would enable it to complete development and commercialization of its first two diagnostic products and continue discovery and development of additional product candidates.
Investors in the round included Legg Mason Capital Management, GE Asset Management, and Smallcap World Fund. They joined current investors Flagship Ventures, Glide Healthcare Partners, Humana, and Stelios Papadopoulos.
Leerink Swann acted as placement agent for the financing.
Waltham, Mass.-based BG last year filed for an initial public offering on the Euronext Amsterdam Exchange. However, the firm withdrew the offering earlier this year, citing “current market conditions.”

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