NEW YORK (GenomeWeb) – Next-generation sequencing-based testing firm Courtagen Life Sciences has raised $7.5 million, according to a document filed with the US Securities and Exchange Commission this week.
The company said there were three investors in the round but did not name them. It did not say how proceeds would be used. A Courtagen spokesman said that the $7.5 million is part of a total financing round of about $17 million expected to be completed in a few weeks. He declined further comment.
The securities offered in the round were in the form of equity, Courtagen said in its SEC document. The company previously raised $6.3 million a year ago.
Headquartered in Woburn, Massachusetts, Courtagen develops genetics tests for mitochondrial disorders, epilepsy and seizure disorders, and neurodevelopmental disorders. It recently reached distribution agreements with Pronto Diagnostics for Israel, and with Medica Labs for Thailand.