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Caprion of Montreal Raises $4.1M for Proteomics Efforts

NEW YORK, March 13 – Canadian proteomics company Caprion Pharmaceuticals said Tuesday it had raised C$6.2 million ($4.1 million) in a secondary round of private financing managed by Yorkton Securities and led by Ventures West and Fidelity Management & Research.

Caprion of Montreal has raised a total of C$58.1 million to date, not including a C$11.6 million investment from Micromass for the application of Micromass' mass spectrometry technologies to Caprion's proteomics efforts.

“Caprion now has in excess of C$70 million in cash to meet the significant challenges we have set out for ourselves, and to compete in the emerging field of proteomics on a global scale," Lloyd Segal, Caprion CEO, said in a statement.

Caprion Pharmaceuticals has developed proprietary processes to determine cell-mapping patterns in order to better understand the role of proteins in disease.

Caprion’s cell mapping technology reveals how proteins work at the level of single organelles, including spatial and 3-D orientation information, an approach the company has said differs from that of most proteomics competitors, who work at the tissue level.  

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