Tiny start-up Innovative Biosensors has raised $3.5 million in first round venture financing. The College Park, Maryland-based company licensed its technology from MIT and is developing technology that can quickly detect pathogens. Executives at the upstart say that the technology will also be useful in drug discovery and rapid diagnosis. Harbert Venture Partners led the round. Other investors include New Markets Growth Fund and the Maryland Venture Fund.
- read this press release for more on the company
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