U.S. Genomics nets $25 million round

May 12, 2003 — U.S. Genomics Inc., a Woburn, Mass., developer of analysis technologies for the life science industry, announced it has raised a $25 million round of financing.

New investor Fidelity Biosciences Group led the round. New investors Zero Stage Capital   and China Development Industrial Bank  also participated, along with previous investors Still River Fund,  HealthCare Ventures and CB Health Ventures as well as unnamed individuals, according to Courtney Harris, communications manager.

Harris said the 48-person company is hoping to have a product on the market within a year and will be expanding its staff to 75 people within six to eight months on both the business and the research side. U.S. Genomics previously raised $200,000 in 1998, $2 million in 1999 and $17 million in 2001.

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