NEW YORK (GenomeWeb News) – Biotech firm Odyssey Thera has raised $2.8 million and initiated a research service contract with Merck, it announced on Thursday.

The financing, consisting of new funds and debt conversion, will go toward the development and expanded commercialization of the San Ramon, Calif.-based company's technologies and products.

Participants in the round include Merck, HBM Partners, Burrill & Co., and Lonza.

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