NuGEN closes $7.5M C round

Aug. 20, 2003 — NuGEN Technologies Inc., a San Carlos, Calif., developer of nucleic acid amplification and detection products, announced closing on $7.5 million in Series C financing.

The round was led by William Rutter, George Rathmann and James Wilson. Rutter is a co-founder of Chiron Corp., an Emeryville, Calif., biotech company, and joins NuGEN’s board. Rathmann is co-founder and a former chief executive officer of the biotech company Amgen Inc.

Sutter Hill Ventures of Palo Alto, Calif., also participated, as did previous investors Radius Venture Partners, the Band of Angels Fund and MedCapital Ventures.

The company said in a news release that the financing will be used to build the firm’s infrastructure and develop its products pipeline.


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