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FlexGen to Use VC Money to Speed Commercialization of FlexArrayer

NEW YORK (GenomeWeb News) – FlexGen today announced that it has closed a round of private equity financing with an undisclosed amount of funding coming from BioGeneration Ventures and Crédit Agricole Private Equity.

The amount of the funding was in the several million euros, according to FlexGen CEO Fred Dom.

The firm, based in Leiden, The Netherlands, intends to use the money to speed up development and global commercialization of its FlexArrayer for producing custom microarrays.

FlexGen, which was founded in 2004 based on technology developed by Dutch Space and Leiden University Medical Centre, also noted that it is collaborating with partners on developing tools for next-generation sequencing, biomarker validation, and other application areas.

Dom said in a statement that the growing use of next-generation sequencing systems provides "exciting opportunities" for the firm's technology. "The FlexArrayer provides the customer fast and flexible tools for genomic selection and biomarker validation that can easily be integrated in the high throughput approaches that sequencing facilities require," he said.

Wil Hazenberg, a partner in BioGeneration Ventures, will join FlexGen's board of directors, while Emmanuelle Coutanceau will represent Crédit Agricole Private Equity on the board.

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