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Deltagen Financing Round, Led by Sprout Group, Raises $11M

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SAN CARLOS, Calif.--Deltagen, a biotechnology company specializing in gene function determination, announced the completion of a second round of financing that netted $11.5 million.

The round was led by Sprout Group, Menlo Park, Calif., and included investments by Baccharis Capital, also in Menlo Park, and Tularik, in South San Francisco, Calif.

Deltagen has developed an integrated genomics approach that moves from identifying novel genes to determining their in vivo biological function. Analyses are derived using the company's proprietary mouse gene knockout technology, which enhances both the speed and the throughput of targeted gene knockouts in mice and allows for the assessment of hundreds of genes per year, Deltagen claimed.

Founded in 1997, Deltagen has raised a total of $14.5 million in equity investments. The company currently has over 250 gene knockout programs in its internal research pipeline and plans to expand research to new technologies and corporate partners over the next several months.

Deltagen's initial strategy focuses on employing its biological systems expertise and bioinformatics capabilities to determine novel gene function in the areas of immune response, inflammation, hematopoiesis, and angiogenesis, and in the development and maintenance of the central nervous system.

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