HTG lands $10M in third round

High Throughput Genomics, an Arizona-based provider of microplate-based gene expression assay technology and services, has raised $10 million in its third round of financing. Merck's investment arm led the round. Also contributing were Solstice Capital, Valley Ventures and Arcturus Capital. HTG is hoping to develop a universal molecular biology-based tool set to improve the drug discovery process.

"Adoption of HTG's technology continues to rise, and we have diversified our portfolio of products and services including a strategic focus on academic collaborations, to best meet the evolving needs of our clients. With this new financing, HTG will be able to scale our sales and marketing activities to our growth," said E. William Radany, Ph.D., Chief Executive Officer, HTG.

- see this release
- read this Arizona Star report for more