Originally Published MX: Issues Update January 2010
Molecular Biometrics Closes $12.5 Million in Series B Funding
Molecular Biometrics Inc., a metabolomics company developing clinical diagnostic tools for personalized medicine, announced that it has completed a $12.5 million Series B financing. New investor Atlas Venture (Waltham, MA) led the round with participation from existing investors Safeguard Scientifics Inc. (Wayne, PA), and Oxford Bioscience Partners (Boston).
According to the company, the financing allows it to accelerate the global launch of ViaMetrics-E, a rapid, noninvasive procedure that is designed to enhance in vitro fertilization (IVF) outcomes. Funding will also enable to firm to implement manufacturing and product enhancements, and complete an ongoing FDA clinical study for the product. ViaMetrics-E is designed to help identify viable embryos that have the greatest reproductive potential, thus improving pregnancy rates in IVF, and ultimately reducing the number of embryos transferred, along with reducing possible complications and the healthcare costs that accompany multiple births.
© 2010 Canon Communications LLC