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GenVault Closes $18 Million Expansion Financing Round

Wednesday, April 04, 2007 7:30:00 AM PDT | VentureDeal Staff

CARLSBAD, CA -- Biosample management company GenVault Corporation announced the close of an additional round of funding, receiving $18 million in additional financing.

The company has developed technology that allows samples of DNA to be stored at room temperature instead of having to be frozen or cooled, thus reducing operating costs.  Future systems will provide a similar option for RNA samples.

It intends to use the financing proceeds for expanding global sales and marketing efforts.  Investors in the round were QuestMark Partners and returning investor Domain Associates.

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