Monday, June 9, 2008

GenVault Adds $13M

Carlsbad-based GenVault, a firm which develops systems for managing biosamples, said this morning that it has raised $13M in additional venture financing. The round was led by Montagu Newhall Associates, and also included prior investors Domain Associates, QuestMark Partners and Cross Creek Capital. C. Ashton Newhall of Montagu Newhall Associates joins the firm's board as part of the funding. GenVault said the funding will go toward commercialization of its proprietary technology, which allows biosamples to be preserved at room temperature; the firm's products are used for translational medicine, drug discovery and healthcare delivery. More information »