Protedyne raises $10 million in round D

New York, Aug. 23 - Protedyne Corp. said it completed a $10 million round D financing.

Investors included Allen & Co. LLC and Qiagen NV along with existing investors The Sprout Group, Meridian Venture Partners, Long River Ventures, Village Venture Partners and Boston Community Venture Funds.

Protedyne said it will use proceeds for working capital including enhancements to its BioCube System product line and for new product development and expanded marketing.

"Our BioCube System has changed the face of laboratory automation," said Donald Schoeny, Protedyne's president, in a news release. "In just five years, Protedyne has deeply penetrated the diagnostic, drug discovery and genomic markets, giving laboratories the ability to perform research and diagnostic testing faster and more reliably. Our next generation of products will bring even more automation advances to research and diagnostic laboratories."

Windsor, Conn.-based Protedyne is a provider of automation equipment to life sciences laboratories.

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