Venture capitalists give to biotech firm
By KATHLEEN GALLAGHER
kgallagher@journalsentinel.com
Posted: Sept. 11, 2007
A Madison company that is developing products that can rapidly identify bacteria and other organisms will announce today it has raised $23.6 million in a financing led by venture capitalist firms on both coasts.
OpGen Inc.'s third funding round was led by three firms: CHL Medical Partners, Stamford, Conn.; Highland Capital Partners, whose U.S. offices are in Lexington, Mass. and Menlo Park, Calif.; and Versant Ventures, Menlo Park.
"OpGen's technology has been applied successfully many times, the market opportunity is great, so we felt it was worthwhile trying to develop an instrument to take into the hospital microbiology market," said Ron Lennox, a partner at CHL Medical Partners who will become chairman of OpGen's board.
