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Galileo Genomics Raises $9M in Venture Capital, Changes Name

NEW YORK, Dec. 13 (GenomeWeb News) - Galileo Genomics has raised CAN$11.1 million ($9 million) in the second tranche of a Series B financing round, the company said today.


The company also announced today that it has changed its name to Genizon BioSciences in order to reflect its recently expanded scope.


New investors involved in the financing include Solidarity Fund, which acted as the lead for the round. Existing investors taking part in the Series B financing included HBM BioVentures, MVI, Biofund, and Carnegie, Galileo said.


"Over the past year, we have demonstrated that our proprietary genetic approach results in the discovery of multiple key disease-genes in common diseases," John Hooper, president and CEO of Genizon, said in a statement. "We have also expanded our capabilities to include downstream pathway analysis and target identification. ... Our new name reflects this evolution."

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