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Shanghai-Based ProGenTech Draws $21m in VC Funds

Filed in archive Venture Capital on April 2, 2008

ProGenTech, a life science company with offices in Shanghai, Suzhou and Emeryville California, announced last week that it had received US$21 million in venture capital funding from two sources.

According to East Bay Business Times the two funding sources were Bay City Capital of San Francisco and DT Capital of Shanghai.

A press release said that ProGenTech makes "a contamination free, cassette based automated nucleic acid purification systems." I'd probably have to see a picture and take a few biochemistry classes to be able to explain exactly what that means. But the funding is part of a growing trend of venture capital involvement in the medical technologies industry in China.

ProGenTech has been around since 2005 and has about 40 employees.

Biotech and medical technologies are attracting VC fudning in China...




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