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Primera Biosystems Inc, a Mansfield-based company that does business as PrimeraDx, reports it has closed on a $20 million Series C round of financing, led by new investor CHL Medical Partners. A number of the company’s previous investors participated, including Abingworth LLP, InterWest Partners, Malaysian Technology Development Corp., MPM Capital, Burrill & Co. and the Invus Group.
Ronald Lennox of CHL Medical Partners will join the company’s board of directors as part of the financing, officials said.
Primera is a molecular diagnostics company developing a proprietary nucleic acid analysis system, STAR (Scalable Target Amplification Routine), invented by Vladimir Slepnev, Primera’s chief scientific officer and co-founder.
Earlier this month, Primera took on $1.5 million in debt financing, according to a filing with the U.S. Securities and Exchange Commission.
In January of 2008, Primera closed on a $21 million Series B financing led by U.K.-based Abingworth and including the give investors listed in the Series C round.
Primera was spun off from Providence, R.I.-based life sciences company Sention Inc. and started out based in Providence before moving to Mansfield in 2006. The company says it plans to commercialize its STAR platform and assay reagents to hospital and reference laboratories, and it plans to seek regulatory approval in the future.
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