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Ambion Spin-Off Asuragen Raises $49M in Series A Funding

NEW YORK (GenomeWeb News) - Ambion spin-off Asuragen has raised $49 million in a Series A private-equity financing round, the company said today.

It will use the cash to help pay for operating expenses and to license its cancer diagnostic and therapeutic programs.
Telegraph Hill Partners led the round, which included Growth Capital Partners and other firms that invested in Ambion, the company said.
Asuragen was formed after Applied Biosystems  acquired Ambion's RNA business in March. It comprises Ambion's former diagnostics and services division as well as a discovery group.

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