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Durham biotech snares $6 million in venture cap

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Durham biotech company Metabolon announced this morning that it secured $6 million in venture capital funding to finance operations.

The latest round of venture capital brings the company's total haul to about $31 million since 2003.

Metabolon was incorporated in 2000 and today employs 52 people, mostly in Durham. The company is run by CEO John Ryals, who previously was founder and CEO of Paradigm Genetics.

Metabolon has two lines of business. Its service branch provides analytical tools that measure biochemicals to assess the severity of a disease. Metabolon's diagnostics branch expects to have its first product -- a diagnostic tool for prostate cancer -- on the market in early 2011.

The latest financing added new investors including Syngenta Ventures, the corporate venture capital subsidiary of Syngenta. Its local investors include the Aurora Funds and Fulcrum Financial Partners.

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About the blogger

John Murawski has been a full-time newspaper reporter since 1991, with stints at Legal Times and The Chronicle of Philanthropy (both in Washington, DC), The Philadelphia Inquirer and The Palm Beach Post (in South Florida) before arriving at the N&O in December 2004. At the N&O he covers energy (nuclear, coal, renewable, efficiency), hydraulic fracturing (or "fracking"), public utilities and health care. His beat includes PSNC Energy, Piedmont Natural Gas, Duke Energy Progress, PowerSecure International, GlaxoSmithKline, Merck, Novo Nordisk, Pfizer, Biogen Idec and others. He has also contributed more than 30 book reviews on topics spanning botany, history, science and religion. You can reach him at 919-829-8932 or e-mail him.
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