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Prolinx Raises $16.8M in New Financing

NEW YORK, July 17 - Prolinx has raised $16.8 million in new funding, the company announced Tuesday.

The Bothell, Wash.-based manufacturer of tools and applications for manipulating macromolecules said it would use the new funds for product releases, including a protein microarray product line and a series of molecular interaction analysis systems for label-free detection in bioresearch and drug discovery.

"With the evolution of bioresearch and drug discovery towards the analysis of proteins and other complex systems, the demand for Prolinx technologies and products is increasing," Jim Mahoney, CEO of Prolinx, said in a statement. "This funding will allow us to accelerate the release of new products and to invest in the infrastructure required to market, sell, and support these new products."

The latest round of financing included new investors Stephens Group and Wheatley Partners, and existing investors Tullis-Dickerson, BA Venture Partners, Axiom Venture Partners, Technology Funding, Javelin Capital, MDS Ventures Pacific, and Sofinnova Ventures.

Prolinx was founded in 1995.

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