Biotech, deals, VC

BG Medicine Raises $40M

Rebecca Zacks 7/17/08

BG Medicine, a molecular diagnostics firm in Waltham, MA, announced today that it has closed a Series D financing round worth $40 million. Legg Mason Capital Management, GE Asset Management, and SMALLCAP World Fund, participated, as did existing investors Flagship Ventures, Gilde Healthcare Partners, Humana, Stelios Papadopoulos. BG pulled a planned IPO back in January; it says it will use the new private funding to help it bring its first two biomarker-based diagnostic tools to market.