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Israeli Start-Up Raises $7.1M in Private Financing

NEW  YORK, Nov. 7 – Glycominds of Israel has raised $7.1 million in a private financing round, the company said.

The company, which is developing technologies for analyzing the interactions between complex carbohydrates, or glycans, received the funding from Israel's Millennium Materials Technologies Fund, Schott Glas, a German manufacturer of special materials, and other undisclosed venture capital funds.

Glycominds has developed the GlycoChipT, a biochip that serves as a micro-array of complex carbohydrates, designed to allow researchers to analyze glycan-protein interactions. 

Founded in 1999, the company has also developed a database of glycan sequences. The database is ordered by Glycominds'  Linear Code, a syntax and nomenclature that allows complex and diverse glycans, including any branching, linkage and/or terminal modifications, to be classified systematically.

The company expects that the database will contain some 6,000 validated sequences by the end of the year.


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