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Ligon Discovery Seeded with $1M

Ryan McBride 11/19/09

Ligon Discovery reported today on its website that it has raised $1 milllion in seed financing from incTANK Ventures. The Cambridge, MA-based startup says it uses a small molecule microarray system developed at Harvard University to discover drugs, and the drug-discovery technology has already been put to work at the Broad Institute. The company founders include Benjamin Ebert of Harvard Medical School, Angela Koehler of the Broad Institute, and company CEO Patrick Kleyn, who was previously director of scientific planning at the Broad. As part of the financing, IncTank Ventures general partner Christian Bailey is joining the board of directors at Ligon, according to the company.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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