HTG Receives $3.4 Million in Series B Financing; Expands Manufacturing and Marketing of Molecular Biology-Based Drug Discovery and Diagnostic Tools.TUCSON, Ariz. -- HTG HTG In currencies, this is the abbreviation for the Haitian Gourde. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. , Inc., a provider of novel array-based gene expression assay technology and services to the life sciences industry, today announced it has closed $3.4 million in Series B financing. Solstice solstice (sŏl`stĭs) [Lat.,=sun stands still], in astronomy, either of the two points on the ecliptic that lie midway between the equinoxes (separated from them by an angular distance of 90°). Capital, Valley Ventures, Emerging Technology Partners, Deimos Ventures, Village Ventures, members of the Tucson Desert Angels, and HTG founder Bruce Seligmann participated in the round. HTG will use the funds to further expand manufacturing, sales, and marketing activities; hire additional personnel; and increase product trials in support of its patented ArrayPlate qNPA technology. "Over the past year, HTG has achieved several important milestones, including the adoption and validation of our technology by major pharmaceutical companies and the addition of highly respected researchers to our scientific advisory board," said Kirk Collamer, president and chief executive officer of HTG, Inc. "Industry recognition of our unique product and value proposition now enable us to substantially expand manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. and marketing activities to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. demand for ArrayPlate qNPA technology." Harry George, president of Solstice Capital, said, "We think that the big pharmaceutical companies are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. new tools to accelerate the drug discovery process and we believe that HTG's qNPA technology will win wide adoption. We also like the potential for HTG's technology to enable new molecular diagnostics tests." Solstice Capital, Valley Ventures, and Village Ventures also participated in HTG's first round of financing in 2002. To date, the company has raised more than $4.6 million. About HTG HTG provides Quantitative Nuclease Protection Assay A nuclease protection assay is a laboratory test used in biochemistry and genetics to identify individual RNA molecules in a heterogeneous RNA sample extracted from cells. The technique can identify one or more RNA molecules of known sequence even at low total concentration. (qNPA) technology and services for the life sciences industry enabling a new era of drug discovery and diagnostics. The qNPA technology platform allows the accurate, sensitive and reproducible measurement of molecular signatures through the multiplexed analysis of RNA RNA: see nucleic acid. RNA in full ribonucleic acid One of the two main types of nucleic acid (the other being DNA), which functions in cellular protein synthesis in all living cells and replaces DNA as the carrier of genetic directly from whole cells, tissues or organisms. Researchers can obtain much higher quality gene expression data faster than ever before, in days rather than months. Additional information is available at www.htgenomics.com. |
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