High Throughput Genomics (HTG), a US-based developer of genetic testing equipment, has raised the first tranche of its $15.7m series D round led by Denmark-based foundation Novo A/S.
Novo joined Merck Capital Ventures, the corporate venturing unit of US-based drugs company Merck & Co that has just set up an Innovation Fund, in the consortium along with venture capital firms Fletcher Spaght Ventures, Solstice Capital and Valley Ventures.
Merck Capital Ventures, which was founded in 2000, Solstice Capital and Valley Ventures as well as first time investor Arcturus Capital provided $10m in HTG’s C round in October 2007.
Peter Bisgaard, partner at Novo, said: "HTG’s technology platform offers considerable benefits, especially in formalin-fixed paraffin-embedded tissue samples which are particularly difficult to evaluate. This technology is a cost-effective, valuable tool in the ultimate pursuit of personalized medicine options for patients."