TriPath boosts cash with $7 million financing:
This article was originally published in Clinica
TriPath, one of the competitors to Cytyc in the enhanced Pap smear market, has raised $7 million from a syndicate of anonymous life science investors. Burlington, North Carolina-based TriPath has taken $5.25 million to augment its cash reserves, with the remainder scheduled to be called upon in May. The syndicate gains 210,000 share warrants at market value.