HandyLab announces $5.5M Series B financing

June 24, 2002 — HandyLab, a company that develops microfluidic testing systems for immediate point-of-care diagnosis of infectious disease and genomic identification, announced today that it has completed its Series B funding of $5.5 million with both current and new investors.

HandyLab’s first products, now entering preclinical trials, are low-cost, disposable genotyping tests for infectious diseases, the company said in a news release.

Two new investors, SBV Venture Partners and Hewlett-Packard, joined Series A investors Ardesta, EDF Ventures, the Wolverine Venture Fund, and XR Ventures in this round. All Series A investors increased their investment in HandyLab in this second round.

The additional investment will fuel aggressive growth for HandyLab through stepped-up development of new infectious disease and biodefense pathogen detection chips as well as expansion of the management team, the company said.

HandyLab investor Ardesta is also the parent company of Small Times Media.


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