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DoubleTwist Closes $37M Financing; Portal Provides Derwent Patent Data

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AKLAND, Calif.-- DoubleTwist, a startup life sciences application service provider formerly known as the bioinformatics company Pangea Systems, has raised $37 million in a private placement of equity securities. Aside from eight participating previous investors, the new round included T. Rowe Price, the Invesco Global Health Sciences Fund, Lone Pipe Capital, and Amerindo Investment Advisors.

DoubleTwist also recently announced an agreement with Derwent, a provider of patent information, to offer access to Derwent’s Geneseq patent database through the genomics internet portal, DoubleTwist. com. Derwent’s current customers will have full access to Geneseq records on DoubleTwist.com, and DoubleTwist users will be notified when new information from the Geneseq database is available.

Separately, DoubleTwist has formed an e-commerce partnership with Incyte subsidiary Genome Systems to enable DoubleTwist users to buy products such as DNA arrays and purification and screening kits from the company. Through another deal, DoubleTwist.com will offer Target Explorer protein function prediction tools from Molecular Simulations. The software company’s WebLab ViewerLite 3D molecular visualization package will also be available at DoubleTwist’s site.

The internet company has hired Bill Balch as vice-president, North American sales, from Genometrix, where he was vice-president of sales and marketing; ex-Molecular Simulations executive Simon Tomlinson as vice-president and general manager for the company’s new European office in Munich; and Karl Thiel as editor-in-chief at DoubleTwist.com. Thiel had held a similar post at BioSpace.com.

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