The Virginia BioTechnology Research Park in Richmond, Va announced recently that tenant companies Living MicroSystems and CellPoint Diagnostics closed financing rounds totaling more than $26 million.

Living MicroSystems is a biomedical products company that utilizes a proprietary rare cell-detection technology to provide noninvasive prenatal screening of chromosomal abnormalities in the first trimester of pregnancy, including Down syndrome. The product will significantly reduce the need for amniocentesis, a highly invasive and potentially dangerous procedure in which a small amount of fluid is drawn from the uterus and then examined to detect genetic complications in the fetus.

The company has closed an $18 million Series B round led by Alloy Ventures, according to president and CEO, Michael Grisham. “The funds will be used to complete clinical trials and launch our initial commercialization strategy,” commented Grisham.

In addition to Living MircroSystems, Grisham is president and CEO of CellPoint Diagnostics, which also is utilizing rare cell-detection technology. CellPoint is focusing on the capture and analysis of rare circulating tumor cells from the blood stream of individuals with breast, lung, prostrate or colorectal cancer. This technology has the potential for making a major impact in cancer patients’ survival through therapy monitoring, reoccurrence detection, therapy selection and, ultimately, for early screening and diagnosis.

CellPoint closed an $8.5 million Series A funding round, led by Mohr Davidow Ventures. The funds will be used to expand the management team, establish beta testing sites, conduct initial clinical trials and to define the regulatory and commercialization strategy.

Living Microsystems presented at the Southeastern BIO Investor Forum in 2003.

For more information, visit: www.vabiotech.com