Courtagen Rakes In $20 Million
Financing Will Support Commercialization Efforts for Courtagen’s Pediatric Neurology Next Generation DNA Sequencing and Molecular Information Assays
WOBURN, Mass.--(BUSINESS WIRE)--
Courtagen Life Sciences, Inc., a commercial-stage, innovative molecular information company, announced today that the company has closed its recent financing endeavor, with ~$20 million of new growth equity. Courtagen sells proprietary genomic diagnostic and drug metabolism assays for pediatric neurology disorders. In addition to original investors Harbor Light Capital and Adler & Co., this financing includes new investors Bunker Hill Capital, First Analysis, as well as other high net worth investors. In conjunction with the financing, Chuck Farkas, Partner at Bain & Co., and Tracy Marshbanks, Managing Director at First Analysis, will join Courtagen’s Board of Directors as a Board Member and Board Observer, respectively.
“We have been extremely pleased by the strong interest Courtagen has received from the investment community over the past year, and we are delighted to welcome Bunker Hill, First Analysis, and our new high net worth investors and Board participants to the Courtagen team,” commented Brian McKernan, Chief Executive Officer of Courtagen. “Over the past year, we have made tremendous progress in our mission to help children suffering from debilitating diseases. The proceeds from this financing will be utilized to expand our ability to deliver leading edge services to our customers, while maintaining strong financial and operating discipline. We remain steadfast in our determination to build Courtagen into a world class, global enterprise with significant depth and breadth in capabilities, reach, and impact in helping physicians to treat patients.”
About Courtagen Life Sciences, Inc.
Courtagen is a privately held life sciences and molecular information company that converts genomic data into actionable clinical information for the diagnosis of critical pediatric neurological and metabolic disorders. Specifically, Courtagen focuses on mitochondrial disorders, epilepsy, and intellectual disability, including autism spectrum disorders. Courtagen’s state-of-the-art Next Generation Sequencing clinical laboratory integrates genotype, phenotype, and disease mechanism data using cloud-based computing and custom analytical methods to provide the most comprehensive results for clinicians, patients, and their families to better understand and treat their disease. More information can be found at www.courtagen.com.
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