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OpGen Raises $17M in Series B Financing

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – OpGen today said that it has raised $17 million in a Series B financing.

The Gaithersburg, Md.-based firm will use the funds to support marketing of its recently launched Argus Optical Mapping System for automated, microbial whole-genome analysis. The system generates ordered, whole-genome genetic maps from single DNA molecules that can be used for strain typing, comparative genomics, and whole-genome sequence assembly.

According to the firm, the Argus system enables to study genotype to phenotype relationships that would not be detected by other technologies.

"The new growth capital will fuel our efforts to expand into new markets, including the development of new applications that will complement sequencing technologies and help facilitate rapid completion of large genome mapping and finishing technologies currently under development at the company," OpGen CEO Douglas White said in a statement.

The financing round was led by jVen Capital and included participation from existing investors CHL Medical Partners, Highland Capital Partners, Mason Wells Biomedical, and Versant Ventures.

As part of the financing, Evan Jones, managing member of jVen Capital has been appointed OpGen's board as executive chairman. Jones was already a member of OpGen's board and had served as an interim CEO of the firm. He formerly was CEO of Digene, before that firm was acquired in 2007 by Qiagen for $1.6 billion.

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