Metra Biosystems has raised $6 million in its second round ofventure financing.
The funds will be used to continue development ofcomprehensive screening and monitoring of assays for bothbone and cartilage. "We are developing tests to measuredegenerative conditions of bone and cartilage, which areosteoporosis, rheumatoid arthritis, osteoarthritis and Paget'sdisease," said George Dunbar, chief executive officer.
The Palo Alto, Calif., company's Crosslinks immunoassay hasjust entered clinical trials in the United States and Europe. It isintended to provide a simple, inexpensive method to screen formetabolic bone disorders, measure their degree of severity,and monitor treatment over time.
First-round investors included Asset Management Co., DelphiBioVentures, Alpha Partners and Avalon Ventures. The secondround included the first round-investors, except for Avalon,plus Aperture (the directed venture fund of Eastman Kodak)and Institutional Venture Partners. According to Metra,Avalon's bylaws precluded reinvestment in a current portfoliocompany. -- Jeffrey M. Freedman
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