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Print Edition StoriesMonday, March 15, 2010
Connecticut backs diagnostics firm HistoRx
By Mass High Tech staff
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Connecticut Innovations has announced a $1.5 million loan to HistoRx Inc., a New Haven-based firm working on diagnostic solutions for cancer treatment.
HistoRx licensed its core technology from Yale University and is developing and commercializing a technology known as AQUA, which is designed to quantify specific protein expression within different parts of the cells in cancerous tissue samples. The company says that this helps to identify which drugs may be best suited to fight a specific patient’s cancer.
The technology combines fluorescence-based image analysis with automated microscopy to measure protein molecules. HistoRx provides research services to more than a dozen pharmaceutical and biotechnology companies.
Connecticut Innovations, a quasi-public authority that is involved in technology investing and innovation development, made the loan through its BioSciences Facilities Fund. HistoRx will use the funds to build out laboratory space and purchase lab equipment.
Gov. M. Jodi Rell said HistoRx has already created 30 jobs in Connecticut, and has the potential to grow further.
The HistoRx management team includes CEO Rana K. Gupta, who was a managing director at Navigator Technology Ventures (NTV), the lead A Round investor in HistoRx,
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