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Phylos Raises $25.1 Million for Protein Chip Effort

NEW YORK, Jan 4 - Phylos, a privately held proteomics company that wants to develop the first high-throughput protein chip, announced Thursday that it had raised $25.1 million in a round of private financing.

The Lexington, Mass.-based company's principal investors include Three Arch Partners, Sprout Group, Lone Pine Capital, and Invemed Associates.

Phylos has developed Profusion, a combinatorial biology platform that finds special " capture proteins" from a massive library of 100 trillion proteins. The platform uses a proprietary method to link a protein to its encoding mRNA, enabling PCR amplification of the protein to a detectable level.

The company is currently using this platform to find proteins that can be used on microarray chips. It has already patented several attachment methods for binding proteins to solid surfaces in a uniform and dense manner, according to company literature.

" With this funding, we are now well positioned to commercialize the protein chip program and continue the development of our platform technology," Phylos CEO Gustav Christensen said in a statement.

The company hopes to use this funding to launch partnerships for thedevelopment of its products and to build a revenue base.

Other companies currently developing protein arrays include Motorola; Proteome Systems; an alliance between Zyomyx and Cambridge Antibody Technology; a partnership between Protein Sciences Corporation and HTS Biosystems; and Oxford Glycosciences, in collaboration with Cambridge Antibody Technology and Packard Biosciences.

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