Prometheus Laboratories Inc. Invests $8 Million Equity In Rosetta Genomics Ltd.

PEH -- Prometheus Laboratories Inc., a San Diego-based drug and diagnostics company, has invested $8 million of equity into Rosetta Genomics Ltd., as part of a licensing and collaboration agreement. Under terms of the agreement, Prometheus would receive U.S. rights to three of Rosetta’s microRNA-based cancer diagnostic tests. Prometheus currently is in registration for a $100 million IPO, and has raised around $73 million in VC funding from DLJ Merchant Banking Partners (21.4% stake), Split Rock Partners (17.4%), New Leaf Ventures (12.5%), Apax Partners (11%) , Wachovia Capital Partners (11%) and Brentwood Venture Capital (7.5%).