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NuGen Raises $7.5M in Series C

NEW YORK, Aug. 20 (GenomeWeb News) - NuGen Technologies of San Carlos, Calif., has raised $7.5 million in a Series C financing round, the company said Tuesday.

 

The financing round was led by individual investors, including William Rutter, co-founder of Chiron; George Rathmann, founder of Amgen and former CEO of Hyseq; and James Wilson, former president of Syntex, Neurex and LifeScan. Sutter Hill Ventures, of Palo Alto, Calif, as well as current investors Radius Venture Partners, The Band of Angels Fund, and MedCapital Ventures.

 

As a result of the financing, Rutter will join the company's board of directors.

 

The company , which makes nucleic acid and protein amplification and detection systems, said the proceeds of the financing would be used to further develop its infrastructure and its products.

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