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Innovative Biosensors Finds Series B Funding

Thursday, May 15, 2008 5:44:00 AM PDT | VentureDeal Staff

ROCKVILLE, MD -- Biotechnology company Innovative Biosensors announced that it has closed its second round of institutional venture capital financing, raising $11.5 million.

The company has developed a system, called BioFlash, that is composed of "a genetically engineered biosensor that allows for extremely rapid testing of analytes at previously unseen levels of sensitivity and specificity."

Life Sciences Partners led the round, which included Harbert Venture Partners, New Markets Growth Fund, Chart Venture Partners, CNF Investments and others.

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