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Brown University-Founded Biotechnology Firm Snags Venture Capital Financing.
Knight Ridder/Tribune Business News, July, 2003
By Andrea L. Stape, Providence Journal, R.I. Knight Ridder/Tribune Business News
Jul. 10--Cyberkinetics Inc., a biotechnology company spun out of Brown University, has closed a $4.3-million round of venture capital financing.
Although the news is good for the young company, bringing its total financing to $9.3 million, it comes on the heels of Cyberkinetics' decision to move from Providence to Foxboro, Mass.
Cyberkinetics, which was formed around technology developed by researchers at Brown, is creating a computerized system that measures electrical brain impulses. The technology could allow paralysis victims to use their brains to control devices such as keyboards.
The company raised $5 million last year, making this week's...
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