Boston Business Journal April 15, 2004

 

BioTrove adds $2.8M to VC round, closes at $13.7M

After announcing nearly $11 million in raised venture funding in January, BioTrove Inc. of Woburn said it has added $2.8 million to that amount to close its VC round at $13.7 million total.

Catalyst Health and Technology Partners in Newton led the most recent infusion of capital, which was oversubscribed. The round also includes new investors Echelon Ventures of Sunnyvale, Calif., and Fletcher Spaght Inc. of Boston.

Original investors from the first traunch include CB Health Ventures of New York, Zero Stage Capital of Cambridge and Japanese firm BioFrontier Partners.

The funding completes the company's second venture investment round, which began in November, when BioTrove secured $5.25 million.

In all, the company has raised roughly $21 million to date.

BioTrove last October named chief operating officer Robert Ellis as its new CEO and president. BioTrove's founding CEO, Colin Brenan is now the company's chief technology officer and senior vice president of research and engineering development.

Founded in 2000, BioTrove employs 30 people and plans to add more in the coming year.

The company's technology includes the Living Chip, which lets a single scientist perform 1 million chemical experiments a day.