Canadian Microarray Firm Gets VC Nod, Again
Epocal of Ottawa received CA $3.1 ($2.0) million in early-stage venture capital funding from Genesys Capital Partners. Genesys was the sole investor in the latest round, drawing funds from the New Generation Biotech Equity Fund, a labor-sponsored fund administered by Toronto-based Triax-Covington. The firm now has some $6.5 million invested in Epocal.
Epocal, founded by I-Stat founder Imants Lauks in 2001, develops sensor microarrays with fluidic circuits for DNA, cell, and protein assays targeting the genomic, diagnostic, and drug development markets.
Procognia Acquires Sense Proteomic
Procognia of Maidenhead, UK, has acquired protein chip manufacturer Sense Proteomic of Cambridge, UK, the companies announced. Financial details were not available.
Sense Proteomic’s staff will be integrated into Procognia and will remain at the Babraham Institute in Cambridge for at least another six months, according to a statement.
Procognia, which now has 60 employees, has developed technologies for the analysis of glycosylation patterns on proteins, which will be complemented by Sense’s functional array technology, the company said.
Procognia also said it closed a $4 million financing round from Apax Partners, Evergreen Partners, and Vitalife, bringing its total funding since its founding in April 2002 to $18.3 million.
Abbott Licenses Luminex Technology
Abbott Laboratories has entered two agreements for license, supply, and distribution rights to Luminex technology, Luminex said last week. Under the license agreement, Abbott will pay Luminex an upfront, non-refundable, license fee and royalties on commercialized assays and instruments. The related supply agreement covers the terms under which Abbott will purchase Luminex 100 systems and xMAP microspheres. Financial details were not disclosed.
Life Sciences Business Plan Competition
The Burton D. Morgan Center for Entrepreneurship at Purdue University and Roche Diagnostics are hosting a competition for life sciences business plans. Groups from academia, early-stage businesses, and established firms can compete for $100,000 in prize money and face-time with funders. Judging of eight finalists will be conducted on April 23 at Purdue.