By Jennifer Chiou
New York, Nov. 30 - Gene-IT said it raised $4.1 million in series A financing.
Cross Atlantic Partners and Milestone Venture Partners led investors, which included Societe Generale Asset Management Alternative Investments.
The company's lead product, GenomeQuest, is a web application that accepts text or sequence queries.
"GenomeQuest expands intelligent access to genomic information by linking sequence and text from disparate databases," Cross Atlantic Partners general partner Sandra Panem said in a news release.
"Ease of use, speed, accuracy and the instant sharing of results allows research teams to do better science and make better business decisions - both are needed for success."
Funds will go towards expanding sales and marketing programs aimed at discovery scientists and attorneys in major markets in North America and Europe.
Based in Worcester, Mass., Gene-IT's GenomeQuest sequence analysis products help pharmaceutical and biotechnology companies make faster and more accurate decisions on their gene and protein discoveries.
| Issuer: | Gene-IT
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| Issue: | Preferred stock
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| Amount: | $4.1 million
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| Investors: | Cross Atlantic Partners (co-lead), Milestone Venture Partners (co-lead); Societe Generale Asset Management Alternative Investments
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| Announcement date: | Nov. 30
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