Epocal secures US$31 million

Epocal locks up Series C financing totaling US$31 million, capital that will help bring its key product to market. Led by Dallas-based Highland Capital ManagementEpocal.jpg, the round included new funding from initial investor Genesys Capital Partners. The pharmaceutical company will use the proceeds to commercialize its FDA-approved EPOC blood diagnostic platform, a handheld system for bedside blood analysis and medical testing. The money will also be used to develop Epocal’s immunoassay technology. Terms of the deal call for Highland’s Nathan Hukill to sit on Epocal’s board of directors. Established in 2001 by I-Stat founder Imants Lauks, Epocal raised $3.2 million in seed financing in 2001 and another $3.13 million in Series A financing in 2003. In 2005, it scored $6.6 million in its Series B round. Last year, MMV Financial Inc. invested US$2.5 million in the company.

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