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Clydesdale Bank Invests $7.8M into Lab21

NEW YORK (GenomeWeb News) – Clydesdale Bank has provided diagnostics firm Lab21 with £5 million ($7.8 million) to support the company's growth plans.

Lab21, based in Cambridge, UK, provides diagnostics products and services for companion diagnostics in personalized medicine, blood bank screening, and other clinical diagnostics.

In recent months, it has partnered with undisclosed companies to develop molecular diagnostic products for detecting mutations in colorectal cancer samples and for detecting Aspergillus. In March, Lab21 opened a clinical genomics center within the Greenville Hospital System Memorial Medical Campus in Greenville, SC.

Susan Lowther, CFO of Lab21, said in a statement today that it intends to use the Clydesdale investment to expand it GMP manufacturing capability and its international sales channel with an eye toward the US market.

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