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Asuragen Raises $5M, Targeting $10M in Series C Round

NEW YORK (GenomeWeb News) – Molecular diagnostics shop Asuragen has raised $5 million toward a $10 million goal in its latest financing round.

In an e-mail to GenomeWeb Daily News, Asuragen Founder and CEO Matt Winkler confirmed the firm has closed the first $5 million of a $10 million Series C equity financing round, and added that the investment was made by an undisclosed "strategic venture investor."

"The proceeds of this round will accelerate the commercialization of our molecular diagnostics products and services," Winkler said, declining further comment.

Asuragen disclosed the financing in a document filed with the US Securities and Exchange Commission on Thursday.

Based in Austin, Texas, Asuragen was formed in 2006 and focuses on developing diagnostics for oncology and companion diagnostics using mRNA and microRNA technologies. According to its website, its product portfolio is comprised of multiplex oncology assays, RT-qPCR leukemia products, PCR assays for Fragile X testing, RNA stabilization technologies, and other things.

Asuragen had previously raised $18.5 million in a Series B round and $49 million in a Series A round.

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