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Vizgen to Restructure as it Raises Capital, Dodges Patent Challenge

NEW YORK – Vizgen, a Harvard University spinout commercializing spatial transcriptomics technology, said Monday that it has raised an undisclosed amount of money as part of a restructuring.

In a statement, the firm said the investment from Northpond Ventures was "significant" but did not disclose the amount. It added that it would "streamline its operations and reduce headcount" but did not provide additional details. "With the new funding, Vizgen continues to invest in the development of its groundbreaking technologies, ensuring a long-term commitment to support its customers," the firm said.

"These measures come in response to unlawful monopolistic conduct by 10x Genomics and Harvard University, Vizgen's own licensor — including baseless patent litigation in the US and Europe," the firm added.

Vizgen also said that last week the US Patent Trial and Appeal Board denied a request from 10x Genomics to review the validity of Vizgen's US Patent No. 11,098,303. 10x has sued Vizgen, among other competitors in the spatial transcriptomics market, for patent infringement, both in the US and Europe. Vizgen has countersued 10x Genomics, alleging infringement of that patent.

In the US litigation, Vizgen has argued that Harvard broke promises made in a 2009 grant proposal to openly license spatial genomics technologies developed in the lab of George Church that were later licensed solely to 10x.

"Our belief in and support of Vizgen is strong," Andrea Jackson, partner at Northpond Ventures, said in a statement. "The team continues to deliver the powerful MERFISH technology to scientists, enabling groundbreaking advancements in the spatial genomics landscape."