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Eagle Genomics Closes $1.6M Fundraising Round

NEW YORK (GenomeWeb News) – Eagle Genomics, a UK-based bioinformatics software and services provider, has completed the second half of a round of fundraising, in which it raised a total of £1million ($1.6 million) that will be used to expand its offerings and develop new products.

Fundraising in the second half of the round was led by members of London Business Angels, with support from the Angel CoFund and from an investor from the first half, Jonathan Milner, who is the CEO of Abcam. In September, the company said that it had raised £590,000 ($917,000) during the first half of the round.

Eagle has said previously that it will use the funds to expand its current offerings, including further development of ElasticAP, its software-as-a-service subscription platform, and to expand its consulting business into markets such as consumer goods, food safety, and animal health.

"With the fundraising now secured, we can really begin to make progress in achieving our commercial goals," David Flanders, Eagle's CEO, said in a statement. "We have already begun our expansion, and the development of ElasticAP relationship is underway – all while we continue to grow the consulting side of the business."

The company added this week that it plans to double the size of its team —adding staff with experience in bioinformatics and software development — to enable it to meet the demands of developing ElasticAP and better support its client base.

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