SOURCE: HTG Molecular Diagnostics

HTG Molecular Diagnostics

February 11, 2014 07:02 ET

HTG Molecular Diagnostics Completes Initial Series E Preferred Stock Offering

TUCSON, AZ--(Marketwired - Feb 11, 2014) - HTG Molecular Diagnostics ("HTG") today announced the initial closing of its Series E offering with existing investors Novo Ventures, SROne, Merck Capital Ventures, and Fletcher Spaght. Proceeds will support commercial and product development initiatives.

"We are more than pleased to have such great support from our investors. This financing provides growth capital to fund our initiatives for 2014 and beyond," commented TJ Johnson, HTG CEO. "The proceeds will support doubling our commercial team in the US, a European launch (including CE/IVD status this quarter), development of additional test menu (including our first FDA submission) and commercializing our first application for targeted sequencing preparation on the Edge System."

"Novo is very excited about the market reception to the new Edge system and HTG's growth prospects, especially the new EdgeSeq chemistry for targeted sequencing," commented Peter Bisgaard, Novo Partner and HTG Chairman. Simeon George, SROne Partner, also noted that "HTG's progress in building a strong pipeline in the companion diagnostic business was also key to SROne's continued support of the company."

About HTG:
Headquartered in Tucson, Arizona, HTG Molecular Diagnostics' mission is to provide simple, cost effective solutions for accurate RNA testing. In 2013 the company commercialized its Edge instrument platform and a portfolio of mRNA assays that leverage HTG's proprietary nuclease protection chemistry. The capability of the Edge System has been expanded to fully automate sample and targeted library preparation for next-generation sequencing.

Contact Information

  • Contact:

    Kimberly Schmitz
    (HTG Molecular) Communications Consultant, Spur Public Relations
    Phone: 520-247-5778
    Email: Email Contact

    Shaun McMeans
    Vice President / CFO
    HTG Molecular Diagnostics
    Phone: 520-547-2827
    Email: Email Contact