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Asuragen Raises $18.5M in Series B Funds

Asuragen Inc., a manufacturer of health care diagnostics equipment, announced today that it has concluded its second round of venture financing after securing some $18.5 million. Asuragen said the Series B funds were obtained from new and previous investors, including first-time investor PTV Sciences and Series A investors Telegraph Hill Partners and Growth Capital Partners. The Austin, Texas-based business' initial funding, which closed in March 2006, raised $49 million. Dr. Matthew W. Winkler, Asuragen's chief executive and chief scientific officer, said his company will apply the latest monies toward developing a new generation of molecular oncology diagnostics products. In related news, Winkler said Dr. Evan Melrose, PTV Sciences' managing director, has been added to Asuragen's board of directors. More information »