NEW YORK (GenomeWeb News) – IonGate Biosciences said today that it has raised €1 million ($1.4 million) in a new round of private funding from Hessen Kapital I.
The Frankfurt, Germany-based firm said that it would use the funds to expand its business in the US and increase global commercialization of its SURFE2R technology. IonGate recently launched its SURFE2R Workstation 5000 for functional screening of transporters in higher-throughput pharmaceutical discovery and development.
Earlier this year, IonGate raised €4.6 million ($6.8 million) in a third round of private financing with investors Heidelberg Innovation and Kreditanstalt für Wiederaufbau. The firm also established a New York-based subsidiary to help marketing efforts for the SURFE2R platform.