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Recent Financings of Private Companies (11/2006)

Each month, Start-Up presents a comprehensive review of young, private life science companies that have recieved venture funding during the month, including companies in the pharmaceutical, medical device, diagnostic and research instrumentation & reagent sectors.

Oct.—Innovative Biosensors (pathogen detection technologies) closed its two-tranche Series A financing, bringing in a total of $6.25mm. Harbert Venture Partners led the round with additional participation from New Markets Growth Fund, the Maryland Venture Fund, Chart Venture Partners, and CNF Investments. The company raised the initial $3.5mm in May 2005.

Innovative Biosensors will use the money for clinical assay development and to commercialize its biodefense testing products. The company's Canary...

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