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Gentronix secures £1.4 million
Drug testing specialist Gentronix is to continue the development and marketing of its screening kits after raising £1.4 million. The funding was led by NVM Private Equity, which invested £1 million for an undisclosed minority shareholding in the company.
NVM’s funding, its first in the company, was complemented by capital from existing investors Manchester Technology Fund and YFM Private Equity as well as funds from un-named private investors.
Manchester-based Gentronix’s main product is Greenscreen HC, which tests new drugs for potentially cancer causing compounds at an early stage in their development.
The company will use the funds to target its screening kits not only at the pharmaceutical and biotech sectors but the cosmetic, environmental and fine chemical markets.
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