Article: Genospectra Series C Raises $16.4M For Next PQB Steps.

West Coast Editor

Privately held genomics tools company Genospectra Inc. gained $16.4 million in a Series C financing to advance its Parallel Quantitative Biology initiative.

"The cash [on hand] will certainly suffice for well over two years," said Frank Witney, president and CEO of Fremont, Calif.-based Genospectra, adding that the company is targeting profitability in 2006.

Genospectra's technology - designed to be of particular benefit with RNA interference, predictive toxicology and secondary screening - includes cell-based assays for gene-expression profiling and live-cell biosensors for analysis of protein or nucleic acid function in a ...

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