NEW YORK (GenomeWeb News) – Seahorse Bioscience yesterday said that it has raised $5 million in a Series D private financing.
The North Billerica, Mass.-based maker of cell analysis instruments said that it would use proceeds form the offering to expand its domestic and international sales and marketing efforts for its XF series analyzers for measuring cell metabolism.
Seahorse CEO Jay Teich called the financing "a milestone" for the firm. "We will use the funds to double our worldwide sales coverage and will be hiring at our manufacturing plant in Chicopee, [Mass.], ensuring that we keep pace with market demand for our XF system," he said in a statement.
Investors in this round included Commonwealth Capital Ventures, FLIR Systems Inc, Rock Maple Ventures, Life Sciences Partners, Oxford Bioscience Partners, Healthcare Ventures, New Science Ventures and HLM Venture Partners.