GenoLogics Life Sciences Software closes Series B financing for US$5.5 million

On October 31, 2006, GenoLogics Life Sciences Software Inc., a leading developer of lab and scientific data management solutions, announced that it had completed a $5.5 million Series B round of financing led by OVP Venture Partners in Seattle, along with Growth Works and Yaletown Venture Partners. Proceeds of the financing will go toward GenoLogics' sales and marketing efforts for the January 2007 launch of its second product. Based in Victoria, British Columbia, GenoLogics serves about 30 pharmaceutical companies and academic institutions with its first product focused on the proteomics market. Fasken Martineau advised GenoLogics in this financing with a team comprised of Keith Spencer, Karima Penman and Frank Schober.