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Arrayjet Closes Private Financing Round

NEW YORK (GenomeWeb) – Scottish microarray instrument maker Arrayjet today announced that it has closed a £650,000 ($867,773) private investment round.

Archangel Investors led the round, with additional investment from Scottish Enterprise.

Arrayjet said it would use the funds from the financing to expand its in-house consultancy service Arrayjet Advance, broaden its global footprint, and bring new products to market.

"This latest round of investment … will help Arrayjet capitalize on the global market demand for our technology, and accelerate the company's pace of product innovation," Arrayjet CEO Iain McWilliam said in a statement.

Last year, the company announced a contract with CDI Laboratories valued at more than $600,000. The year before, it signed a co-development agreement with Safeguard for food safety arrays.