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GenoLogics Raises $5M in VC Round

NEW YORK (GenomeWeb News) – Victoria, BC-based GenoLogics has raised $5 million in a private round of financing with venture capital investors.

The bioinformatics firm said that proceeds would be used to fund its ongoing expansion plans and to accelerate development and global deployment of an end-to-end informatics solution for organizations pursuing translational research initiatives.

Seattle-based OVP Venture Partners led the round of financing with additional investment from Growth Works and Yaletown Venture Partners of Vancouver.

"We've already seen GenoLogics make significant inroads by establishing collaborative partnerships with leading organizations that are looking for ways to achieve their translational research outcomes," said Chad Waite, managing director at OVP, in a statement.

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