HTG Molecular Diagnostics Receives $500k from SR One in Series D Financing
HTG Molecular Diagnostics, a Tucson, Arizona-based provider of molecular technology solutions, has received a $500k investment from SR One, the corporate venture capital arm of GlaxoSmithKline, in the second tranche of its series D financing (read the news).
The company, which has raised $16.2m in this series D round, has added Simeon George, Partner, SR One to its Board of Directors.
HTG intends to use the financing to increase the adoption of its multi-plex gene expression testing platform in three key business areas:
- molecular testing capabilities for translational medicine,
- pharmaceutical clinical development and
- pathology laboratory diagnostics.
The company si currently personnel with specific experience in the following areas: sales and marketing, scientific R&D and operations. It recently appointed John Lubniewski as chief business officer.
Led by CEO TJ Johnson, HTG Molecular Diagnostics provides products for gene expression profiling, miRNA, siRNA and mRNA measurement for clinical research, companion diagnostic and prognostic applications in oncology. The company’s qNPA™ molecular technology platform is designed to detect small changes in gene expression levels especially from formalin-fixed, paraffin-embedded (FFPE) tissue.