Primeradx raises funds for commercialization of their technology

PrimeraDx, Inc., a privately held molecular diagnostics company, announced today that it has closed on its $20 million Series C financing. The financing was led by CHL Medical Partners and also included significant participation by many of the Company’s existing investors; Abingworth, InterWest Partners, Malaysian Technology Development Corporation, MPM Capital, Burrill & Company and the Invus Group.

"We are very excited to welcome CHL Medical Partners into the Company and we appreciate the very strong support of our existing investors. Our ability to attract new capital in this difficult economic climate is a clear endorsement of our technology, the markets that we will soon address, and the talent and the dedication of all of PrimeraDx’s employees.” said Martin L. Verhoef, President and Chief Executive Officer of PrimeraDx, Inc. “We will use this funding for the continued commercialization of our technology, including the advancement of our regulatory strategy and the broadening of quantitative, multiplexed assay menu to run on our ICEPlex system”

”PrimeraDx is an excellent investment opportunity. The Company addresses key needs in the growing Molecular Diagnostics market and is positioned to dominate the quantitative multiplexing segment. We are pleased to participate in the Company”, commented Ronald Lennox, Partner at CHL Medical Partners.

PrimeraDx’s new Board of Directors will continue to be led by Laurence McCarthy as Executive Chairman and will include Martin Verhoef, President and CEO; Ronald Lennox, CHL Medical Partners, Vincent Miles, Abingworth; Nina Kjellson, InterWest Partners; Norhalim Yunus, Malaysian Technology Development Corporation and Robert Rosenthal, President and CEO of Magellan Biosciences, Inc.