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Protedyne to Use $12M VC Infusion to Bolster Staff, Ramp Development

NEW YORK, Nov. 1 – A recent $12 million private equity infusion has spurred Protedyne to expand its manufacturing operations and hire on 30 new staff, the company said on Thursday.

Protedyne, based in Windsor, Conn., said that the capital also will be used to help the research-automation firm bolster its new BioCube and BioResearch products.

The new positions, which will be brought on during the next three months, will include proteomic and genomic research, manufacturing, mechanical, and electrical design, field service, machine assembly, marketing, and software development, Protedyne said in a statement.

"Since we launched our first products early this year, we have established strong relationships with the leading genomic and drug discovery firms," Stan Klein, president of Protedyne, said. "This expansion will allow us to extend our reach in the marketplace and meet our customers' urgent demand to accelerate the discovery process."

As GenomeWeb reported , Protedyne on Oct. 12 had closed $12 million in a Series B financing round. 

The investment comes just eight business days after Protedyne secured $850,000 in Series A financing, a spokesman for the company said.

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