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Burrill backs Series B round for Strand Life Sciences

11 Feb 2013

microscope7_sqLife sciences investor Burrill & Company has completed a Series B financing round for Bangalore-based data company Strand Life Sciences.

The San Francisco-based firm said the deal included a primary investment into Strand as well as a secondary buyout of the lead investors from the Series A round.

Strand said the proceeds would be used to grow the company’s healthcare diagnostics business and expand the company internationally.

Burrill director Tania Fernandez  said, “Our investment in Strand Life Sciences reflects our continued commitment to the life science sector in India.

“We constantly analyse the Indian life science landscape, in search of leading edge platform technologies and products, helping companies develop these to full potential and expanding their access to global markets.

“Strand is a leading-edge bioinformatics company developing healthcare applications. We intend to work with Strand to help them build a preeminent position globally in what we consider the future of medicine – next-generation sequencing and its applications in healthcare.”

Burrill held a $505m second close for its Capital Fund IV in August 2012. The fund will be used to target investments in areas such as therapeutics, diagnostics, healthcare delivery and medical devices, the firm said.

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