HomefundingHTG Closes First Tranche of Series D Financing

HTG Closes First Tranche of Series D Financing


HTG, Inc., a Tucson, Arizona-based provider of molecular technology solutions, closed the first tranche of a $15.7m a Series D financing round.
The round was led by Novo A/S, with participation from new investor Fletcher Spaght Ventures and existing investors Merck Capital Ventures, Solstice Capital and Valley Ventures.
The company intends to use the funding to fuel the growth and adoption of HTG’s multi-plex gene expression testing platform for validation and clinical applications across different therapeutic areas.
HTG’s qNPA platform is in use at major academic and cancer research centers as well as big pharma.
This infusion will help drive additional utilization across these areas as well as into new high growth molecular diagnostic opportunities. The company will also hire additional personnel in 2011 including sales and marketing, operations and development scientists with particular experience working in diagnostics.
Led by CEO TJ Johnson, HTG provides molecular-based solutions for gene expression profiling, miRNA and mRNA measurement, translational medicine and diagnostic applications. Its qNPA™ molecular technology platform is designed to reliably detect small changes in gene expression levels in a variety of sample types.