Fast, cheap gene-scanner BioNanomatrix gets $5M
BioNanomatrix, a Philadelphia developer of genome-analysis systems, raised $5.1 million in a first funding round. Investors included Battelle Ventures, Innovation Valley Partners, KT Venture Group, Ben Franklin Technology Partners and21Ventures.
BioNanomatrix is developing a single-molecule imaging and analysis system that the startup says is ideal for reading DNA sequences. The startup still isn’t divulging many details about its system, although the Philadelphia Inquirer suggested that the company’s “nanofluidics” technology could potentially read all three billion bases from a single DNA molecule without chopping it… Continue Reading
Immunotope raises $350K for cancer vaccine
Immunotope, a Doylestown, Pa., biotechnology company working on cancer vaccines, raised a second $350,000 investment (PDF) from Ben Franklin Technology Partners.
An earlier $350,000 investment allowed the company to manufacture its cancer vaccine, which is initially aimed at ovarian and breast tumors. The new funding will supposedly permit Immunotope to fund early-stage patient-treatment and evaluation studies, although it’s really not clear how much the company can expect to accomplish with these relatively tiny investments. Cancer… Continue Reading