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OriGene Technologies Raises $16M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – OriGene Technologies has raised $16 million in a Series B financing led by IDG-Accel, SBI & TH Venture Capital Enterprise, and Zero2IPO, the firm said yesterday.

The Rockville, Md.-based genetic tools company said that previous investors Morningside Venture Investments and President International Development also participated in the round.

OriGene intends to use the funds to help build its TrueMAB monoclonal antibody collection with an aim of covering the majority of the human proteome. Among the firms other products are cDNA and shRNA clone collections; over 5,000 purified human proteins; 100,000 highly validated human tissues; and assay products based on Luminex's multiplex platform.

"The funding will propel us closer to meeting our goal of building the largest monoclonal antibody collection in the world covering the entire human genome of approximately 20,000 genes," Wei-Wu He, OriGene's chairman and CEO, said in a statement.

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