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Biotech

Genizon
Montreal-based population genetics company Genizon BioSciences Inc., formerly Galileo Genomics Inc., has raised C$31 million ($31.3 million) in Series E funding that gives it $130 million since its founding in 1999. BTF BV of Haarlem, Netherlands, led the round with participation from several unnamed existing investors. Investors in the $8 million Series D closed in February 2007 included Pfizer Inc. of New York and BTF. Other stakeholders include Solidarity Fund QFL of Montreal and Quebec, Bio Fund Management Ltd. of Helsinki, Finland, Carnegie Fund of Stockholm, HBM BioVentures of Zurich and Merchant Venture Investments of Geneva. Genizon will use the funds to conduct genome-wide association studies in the Quebec founder population and to enhance and commercialize discoveries from previous studies. The company's technology platform is designed to identify genes associated with common and economically important diseases and production of targets for drug development and diagnostic products.

Primera Biosystems
Primera Biosystems Inc. of Mansfield, Mass., a developer of gene expression analysis systems, has closed a $21 million round of Series B financing. Abingworth of Boston led he round, joined by InterWest Partners LLC of Menlo Park, Calif., and existing investors MPM Capital of Boston, Burrill & Co. of San Francisco and the Malaysian Technology Development Corp., the Malaysian government's tech investment arm, and the Invus Group LLC of New York. The financing will enable Primera to develop instrument systems and disease-specific diagnostic reagent kits for commercialization.

Medical devices

Benvenue Medical
Benvenue Medical Inc., a Mountain View, Calif., developer of minimally invasive technology for spine repair, has closed a $15 million Series B financing. The round included lead investor Three Arch Partners of Portola Valley, Calif., and returning investors Versant Ventures and De Novo Ventures, both of Menlo Park, Calif. The company will use the capital to expand its product development programs and to obtain additional regulatory approvals. Founded in 2004, Benvenue has developed a flexible spinal implant technology to treat vertebral compression fractures due to osteoporosis, trauma and cancer, and to treat degenerative disc disease. n

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