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Guava Technologies Raises $7M in Venture Capital, Names New CEO

NEW YORK, Nov. 29 (GenomeWeb News) - Guava Technologies has raised $7 million in private-equity financing and has promoted Lawrence Bruder, the company's president and chief operating officer, to chief operating officer, the firm said today.

 

The venture capital was raised by existing investors Abingworth Life Science Investment, Granite Global Ventures, HLM Venture Partners, MDS Capital Corp., ProQuest Investments, and Skyline Ventures.

Bruder said the company expects to be cash-flow positive "within 12 months" and attributed the outlook on new products, sales to new customer bases "within the overall cell analysis market," and "penetration of foreign markets."

 

"The current financing will enable us to continue our growth initiative, bringing us more rapidly to self sufficiency," Bruder said in a statement.

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