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ForteBio Lands $25M in Series C Financing

NEW YORK (GenomeWeb News) – ForteBio has reeled in $25 million in venture capital financing from existing and new investors, the Menlo Park, Calif.-based company said this week.
 
The Series C financing was led by new investor OrbiMed Advisors, and included investments from another new investor MPM Capital, and existing investors Alloy Ventures, Latterell Venture Partners, the Vertical Group, and Versant Ventures.
 
OrbiMed Asia’s managing director, Jonathan Wang, and MPM’s managing director, Kazumi Shiosaki, have joined ForteBio’s board of directors.
 
ForteBio’s president and CEO, Joseph Keegan, said the financing will help the company introduce its products to international markets.
 
ForteBio markets label-free technologies for real-time analysis of biomolecular interactions, including the Octet QK System and the Octet RED system. The company said it currently has 11 biosensors on the market and that its customer base includes “all of the leading biotechnology companies and 18 of the top 20 pharmaceutical companies.”

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