HTG Completes First Tranche of $15.7 Million Series D Financing

HTG, Inc., provider of molecular technology solutions, today announced the closing of a Series D financing round led by new investor Novo A/S. Fletcher Spaght Ventures (FSV) also a new investor, joined the round along with existing investors Merck Capital Ventures, Solstice Capital and Valley Ventures.

The new financing will be used to fuel the growth and adoption of HTG’s multi-plex gene expression testing platform for validation and clinical applications across different therapeutic areas. HTG’s qNPA platform is in use at major academic and cancer research centers as well as big pharma. This cash infusion will help drive additional utilization across these areas as well as into new high growth molecular diagnostic opportunities. The company will also be looking to hire additional personnel in 2011 including sales and marketing, operations and development scientists with particular experience working in diagnostics.

Press release from the HTG website.