Microchip Biotechnologies, Inc., a Pleasanton, CA-based provider of integrated life science systems for microsample preparation and analysis, announced that it has closed a $18.1m Series B financing.
The round was led by Domain Associates with participation from Samsung Ventures, Western Technology Investment Inc. (WTI), and other individuals as new investors. The exisiting backers, Rona Syndicates LLC and In-Q-Tel, both participated in the round.
According to an official statement, the funds will be used for commercialization of the Apollo 100 System, a sample preparation system for Sanger DNA cycle sequencing, the development of the Apollo platform for the rapidly growing Next-Generation Sequencing market and for emerging markets in DNA-based human identification and forensics.
In conjunction with the financing, Dr. Blair, Domain Associates LLC and Mr. Bill Byun, Samsung Ventures America, will join MBI’s Board.