NEW YORK, Aug. 8 – Bioinformatics incubator LaunchCyte said Wednesday it has closed on $700,000 of interim financing from a small number of individuals. 

The funds, which bring Pittsburgh-based LaunchCyte’s total capitalization to $2.7 million, were raised in a convertible debt offering that will convert to equity upon the closing of LaunchCyte's next funding round, expected to take place by the fall. 

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