BG Med gets $40M in fourth round

Waltham, MA-based BG Medicine garnered $40 million in its fourth venture round. New investors Legg Mason Capital Management, GE Asset Management and SMALLCAP World Fund joined current investors Flagship Ventures, Gilde Healthcare Partners, Humana, and Stelios Papadopoulos in the round. BG Medicine plans to use the money to complete development and commercialization of its first two molecular diagnostics based on biomarkers.

"Molecular diagnostics are having a strong influence on the practice of medicine and we are pleased to be at the forefront of that revolution," says CEO Dr. Pieter Muntendam. "This substantial investment further validates our technology, product pipeline and business model."

- check out BD Medicine's release