Bioptigen, a spin-out of the Biomedical Engineering Department in the Pratt School of Engineering at Duke University, has closed a $1.3 million series A round of funding to enhance business development activity and grow the team. The Piedmont Angel Network, Inception Micro Angel Fund and other individual investors participated in Bioptigen’s Series A round. Bioptigen will be The Piedmont Angel Network's PAN Two Fund's first investment.
Bioptigen will use the funds to expand commercialization of its technology, which allows scientists and doctors to take detailed pictures of areas inside the body. The technology is available for sale but on a smaller scale than the Durham-based company would like. Bioptigen has relied largely on federal phase I Small Business Innovation Research grants to develop its proprietary technology, transfer the technology out of Duke, and build sales. For more information, visit www.bioptigen.com. |