T2 Biosystems brings in $10.8M for diagnostics
T2 Biosystems, a company working to develop new diagnostic methods, received $10.8 million in second-round financing from new investors In-Q-Tel (which also helps fund the CIA, incidentally) and Partners Healthcare, and existing investors Flagship Ventures, Flybridge Capital Partners and Polaris Venture Partners.
The Cambridge, Mass.-based company plans to use the new money to develop a beta version of a device combining MRI properties and nanotechnology and to run it through a series of tests over the next 18 months, reports VentureWire. It raised $5.5 million in a first round of funding in 2006, and currently has 20 employees.
Next Story: CeNeRx takes $15M to fight depression
Previous Story: Pandora fires 20, despite rising listenership and growing ad sales
About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
With GreenBeat 2009, VentureBeat's all-star conference on all things Smart Grid, coming up in November, Camille will be expanding coverage of this exciting space. Stay up to date by following @greenbeat2009 on Twitter or by becoming a fan of the event on Facebook here.