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Codon Raises Additional $11M in Series B Venture Capital Financing

NEW YORK (GenomeWeb News) – Codon Devices has reeled in $11 million in additional funding from a Series B financing with existing investors, bringing its total funding for the round to $31 million, the company said Monday.
 
Codon said that all of its existing investors, including Alloy Ventures, Flagship Ventures, Highland Capital Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, and Tactics II Ventures, contributed to the most recent investment.
 
Codon plans to use the funds to expand its gene synthesis and protein engineering capabilities, to expand its commercial synthetic biology applications, and to develop its international commercial presence.
 
The company reported receiving the first $20 million in this round of funding in December, 2006.
 
The company markets its synthetic biology products and design services, including its BioFab production platform, to clients in the pharmaceutical, biotechnology, institutional, and bioenergy fields. The BioFab platform combines informatics and proprietary algorithms, automated technology, and biochemical protocols for use in designing and building genetic sequences.
 

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