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« Court Report | Main | Biotech Acquisitions Up, IPO's Down »

February 26, 2007

GenTel BioSciences Secures $2M in Funding

    By Mark Chael

Gentel GenTel BioSciences of Madison, Wisconsin recently announced that it had raised $1.5 million USD in angel financing for development and commercialization of protein chips and assays, plus $500,000 USD to be used to complete a new partnership with a large pharmaceutical company.  However, other than the fact that the deal has been signed, president and CEO Alex Vodenlich did not provide further details regarding the deal or the identity of GenTel's new partner.  Gentel had originally planned on raising only $1.5 million USD in the latest round of financing, however the partnership opportunity apparently required additional cash resources.

GenTel, also known as GenTel BioSurfaces or GenTel Corporation, is listed as the assignee on U.S. Patent No. 6,878,523 and three published U.S. patent applications, all of which disclose molecular interaction assays on solid surfaces, and in particular, transcription factor and signaling molecule interaction assays.

According to Gentel, the company currently offers "the most dependable protein microarray products for multiplex immunoassays."  Its proprietary PATH® ultra-thin nitrocellulose film surface chemistry "delivers the highest sensitivity for antibody microarray applications."  Additional information on Gentel, including its line of products and services, can be found here.

Posted at 10:38 PM in Licensing |

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