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April 24th, 2007

Biotech firms draw big bucks

Five Connecticut companies received $42.7 million in venture capital funds during the first quarter of 2007, and companies in Guilford and New Haven received most of that total.

RainDance Technologies Inc., a Guilford-based company developing a nanoreactor, raised $23.7 million in its first round of financing. Applied Spine Technologies Inc., a New Haven-based company that makes spine stabilization devices, received $15 million. Two Westport companies and a Stamford company drew another $4 million between them.


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