Mass High Tech - March 8, 2006

VCs put $15M more into BioTrove

Woburn-based BioTrove Inc. has closed an additional $7 million in an oversubscribed round of venture capital funding, bringing the total amount raised since July 2005 to $15 million.

Participating investors in the latest round include Catalyst Health and Technology Partners, Echelon Ventures, Fletcher Spaght, and CB Health Ventures.

According to BioTrove officials, the proceeds of this round will be used to speed up the commercialization of BioTrove’s OpenArray genomics and RapidFire pharmaceutical screening products.

BioTrove offers a pair of platform technologies that officials say will dramatically increase the throughput of SNP genotyping and pharmaceutical screening.