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Magellan Biosciences Captures $50 Million Financing

Wednesday, November 29, 2006 6:00:00 AM PDT | VentureDeal Staff

CHELMSFORD, MA --  Magellan Biosciences announced the closing of a $50 million round of new debt and equity financing.   Funds will be used to expand product development and strategic acquisitions.

The company develops products for clinical diagnostics, hospital-based labs and near-patient testing and serves markets worldwide.

Abingworth Management led the round, which included seven previous and new investors.

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