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news.BG Medicine, a life sciences company focused on the discovery, development and commercialization of novel molecular diagnostics, has raised $40 million in its series D financing.
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New investors Legg Mason Capital Management, GE Asset Management and Smallcap World Fund joined current investors Flagship Ventures, Gilde Healthcare Partners, Humana, and Stelios Papadopoulos in the round.
The funding will enable BG Medicine to complete development and commercialization of the company’s first two diagnostic products and continue discovery and development of additional product candidates.
Pieter Muntendam, CEO and president of BG Medicine, said: “We are pleased that these new investors have joined our existing, experienced life science investors to help bring our exciting, new products to market. This substantial investment further validates our technology, product pipeline and business model.”