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Asuragen Raises $7.5M

NEW YORK (GenomeWeb News) – Asuragen has raised $7.5 million toward a targeted $15 million round.

The Austin, Texas-based molecular diagnostics firm disclosed the funding in a document filed this week with the US Securities and Exchange Commission. Company President and CEO Rollie Carlson said that existing investors participated in the raise, which will go toward the commercialization of Asuragen's oncology and genetic disease tests.

Earlier this week the company announced results from a study demonstrating its Xpansion Interpreter molecular test can improve the determination of a woman's risk of having a child with fragile X syndrome compared to existing risk measures, as GenomeWeb Daily News sister publication PCR Insider reported.

Asuragen was founded in 2006 as a spinout of Ambion and develops diagnostics and companion diagnostics. In 2011, it raised $5 million as part of a Series C round. Before that it raised $18.5 million in a Series B round and $49 million in a Series A round.

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