BioTrove nets $5.25 million

Nov. 12, 2002 — BioTrove Inc., a Cambridge, Mass.-based developer of drug discovery tools, announced $5.25 million in second round financing. Catalyst Health and Technology Partners led the round. CB Health Ventures, Zero Stage Capital and BioFrontier Partners also participated. All are new investors in BioTrove.

The 21-person company previously received funding from Pfizer Inc. in January, 2001, which BioTrove President and CEO Colin Brenan said constituted the company’s first round financing. The terms and amount of the Pfizer investment were not disclosed. In June, 2001, BioTrove received a NIST ATP grant for a little under $2 million over two years. BioTrove began operations in October 2000.

Brenan said the company intends to hire “a few senior-level people” on both the technology and the business side and it will seek space outside of the area it is leasing from Pfizer. Goals also include increasing the customer base for the company’s two product platforms — Living Chip and Lab-on-a-Tape. Brenan said the funding would be sufficient for at least the next 18 months.


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