Genalyte Raises $11.8M

San Diego-based Genalyte, a developer of life sciences equipment which uses silicon chips for protein and nucleic acid testing. said this morning that it has raised $11.8M in a Series B financing round. The round came from Redmile Group, Claremont Creek Ventures, as well as earlier investors in the firm. The company said the new funding will go towards commercialization of its platform, which it is targeting at autoimmune and immunoassay applications. Genalyte's CEO and founder is Cary Gunn. More information »