This article was originally published in The Gray Sheet
Maker of the Artisan automated cellular diagnostic system secures $26 mil. in private equity financing announced Jan. 24. The round was led by EGS Healthcare Capital Partners and also included Oxford Bioscience Partners and Hambrecht and Quist. Funding brings total investment in CytoLogix to over $40 mil., firm says. Proceeds will go toward new product development, manufacturing, international expansion and alliance efforts. Separately, CytoLogix announces the initiation of patent infringement proceedings against Ventana Medical Systems, the same day the U.S. Patent and Trademark Office awarded the firm a key patent related to slide heating technology. Cambridge, Massachusetts-based CytoLogix contends that Ventana's Benchmark and Discovery instruments infringe the patent, and seeks a permanent injunction against those products, as well as damages
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CytoLogix is accusing Ventana Medical Systems with engaging in a four-year pattern of anti-competitive and predatory behavior, including misappropriation of trade secrets and deceptive marketing practices related to slide staining equipment
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