Content provided in partnership with

Cogent Secures $15m

Cogent Neuroscience Inc. of Durham, which is discovering genes that may lead to effective treatments for stroke and other neurological conditions, has completed a $15 million private placement. The placement is more than twice the amount that the company had sought as recently as three months ago.

Max Wallace, president, CEO and co-founder of Cogent, said it was great to have such strong support from the investment community. "When you consider -- as I do almost every day -- that these venture groups could invest in any company, in any field, the fact that they're investing in us speaks volumes," he said.

Most Popular Articles in Technology: An overview of continuous data protection; Why all those current ratings?; Many countries now have a mobile penetration rate above 100%, report says; The Tata Group's big telecom gamble: VSNL's recent acquisition of Tyco ...; MEASURING BANK BRANCH EFFICIENCY USING DATA ENVELOPMENT ANALYSIS: MANAGERIAL ...; More »

The funds raised during this round of financing will be used to rapidly expand Cogent's ability to screen DNA for genes that are neuroprotective in stroke. As it embarks on two new programs -- mapping the brain's regulatory structure and looking for genes that promote neuronal growth -- Cogent will be quadrupling its current work force, adding more laboratories and increasing its discovery throughput with additional robots and DNA sequencers.

Franklin Street Partners of Chapel Hill led this round of financing. Other existing investors included The Wakefield Group of Charlotte, Intersouth Partners of Morrisville, Kitty Hawk Capital of Charlotte, Aurora Ventures of Durham and Cordova Technology Partners of Atlanta.

Technology Industry

Cogent Secures $15m

BT Catalyst, April, 2000

Find Research Guides for:

Find Featured Titles for: Autos

Most Popular Articles in Technology

Most Popular Publications in Technology