NEW YORK (GenomeWeb News) – IonGate BioSciences today announced that it has raised €4.6 million ($6.8 million) in a third round of private financing.
The Frankfurt, Germany-based firm said it would use the funds to expand its international business activities, to commercialize worldwide its SURFE2R technology, and to further develop its SURFE2R workstation. The SURFE2R technology analyzes electromagnetic membrane proteins, while the workstation is being developed to provide researchers with a direct functional characterization of transport proteins.
Last month, IonGate formed a subsidiary in New York that will assist in international marketing of the firm’s technology. Part of the proceeds from this round of financing will be used to establish distribution channels in the US, the firm said.
Investors in this round included Heidelberg Innovation and Kreditanstalt für Wiederaufbau.