HTG Molecular Diagnostics, a medical device and equipment maker, has raised $7.5m of a planned $27m round, according to a November 14 filing with US regulator Securities and Exchange Commission.
HTG previously raised $15.7m in a Series D round led by Novo.
SR One joined the second tranche of HTG’s series D round financing. The tranche also included Merck Capital Ventures, the corporate venturing unit of the eponymous drugs company, early stage investor Solstice Capital and US venture capital firm Valley Ventures.The first tranche was announced in February. The company is also backed by venture firm Fletcher Spaght.
According to news provider Biz Tucson the firm had raised $14m as of 2010. This included a $10m Series C round in 2007, when Merck first backed the company.
The funds will be used by HTG to develop its gene analysis platform, allowing the company’s research to be used more by clinics, the company said.
Simeon George, a partner at SR One who joined HTG’s board, said at the time of the D round extension: “Molecular diagnostics will increasingly impact drug development, approval, and reimbursement. We look forward to working with HTG’s impressive management team and network of advisors to support HTG’s growth in the clinical diagnostics market.”