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Print Edition StoriesWednesday, July 8, 2009
Rapid Micro Biosystems raises $18.6M
By Mass High Tech staff
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Rapid Micro Biosystems Inc., a Bedford-based microbial contamination detection firm, has landed an investment of $18.6 million in a Series A round from Kleiner Perkins Caufield & Byers, TVM Capital, Quaker BioVentures and VIMAC Milestone Medica Fund.
Rapid Micro Biosystems plans to use the funds to grow its product offerings and market presence, according to company officials. As part of the financing round, the Rapid Micro Biosystems board of directors has added Thomas Monath of Kleiner Perkins Caufield & Byers; Jens Eckstein, general partner at TVM Capital; Richard Kollender, partner at Quaker BioVentures;
Rapid Micro Biosystems develops the Growth Direct System, which spots microbial contamination using digital imaging instead of relying on human eyesight to conduct the same work. On the market last year, the system is aimed at pharmaceutical companies and is intended to reduce product loss, labor costs, facility closings and inventory costs.
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