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Bioinformatics Shop Teranode Secures $2.6M Series A Round

NEW YORK, Aug. 6 (GenomeWeb News) - Teranode said last week that it as closed a $2.6M Series A round of financing led by Ignition Partners. Teranode's existing investors - the Washington Research Foundation and Prima Electronics - also participated in the funding round.

 

The Seattle-based firm markets the VLX Design Suite, a biological modeling and experimental design platform. The company's customers include Pfizer, AstraZeneca, FredHutchinsonCancerResearchCenter, and St. Jude's Hospital.

 

Teranode said that its previous funding includes a $1.8 million NIH grant, "undiluted funds" from the NSF and Intel Research, seed funding from the Washington Research foundation, and private investors.

 

The company will use the cash to help expand its development and support teams and invest in marketing and partnerships.

 

This newsbrief originally appeared in BioInform, a GenomeWeb publication.

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