New York, NY – L Capital Partners, L.P, a venture capital firm in New York, is the lead investor in the $3 million Series B financing. Evogen plans to utilize this funding to complete development and commercializing of several PCR based molecular platforms. Evogen Inc., a global diagnostics, biological collection and detection systems company, is the culmination of the merger of two leading independent companies bringing together competencies and technologies to meet the ever-evolving needs of the diagnostic and detection markets. Evogen Ltd., based in the United Kingdom, merged with Sceptor Industries, based in Kansas City, MO, which was formed in 2002 after the American anthrax attacks. Evogen is launching a series of High Definition PCR systems, instruments and assays globally into a variety of market segments including clinical diagnostics, biodefense, environmental testing and research. Evogen’s unique technology brings detection and diagnostics capabilities, previously limited to the laboratory, into the field and gives the company a significant advantage over existing detection systems. Evogen’s affordable solutions save time and money by eliminating days of waiting and the need to transport samples to a lab. Evogen makes detection faster, more affordable, easier, and leads to quicker answers for customers. Sean Reineke, the President and CEO of Evogen and former President of Sceptor, says: “We have emerged as a global diagnostic company able to meet long-standing market needs for rapid, highly-informative, affordable gene-based detection systems. Our portfolio of technologies and applications allows us to further expand beyond the biodefense market into commercial markets, including clinical diagnostics, environmental testing and research.” John Levy, a partner at L Capital Partners, and a member of Evogen’s Board of Directors, says: “The recent merger represents a milestone and gives the company all the components needed to offer a complete system at more affordable prices. Evogen brings the platform and the instruments and Sceptor brings the expertise for aerosol collection and the systems integration for complex biological detection systems. We are building on the company’s success as the market leader and L Capital is pleased to support the team as they grow organically and by acquisition.” Evogen is globally launching the EvoCycler™HD12, the company’s first innovative diagnostics and detection instrument platform that uses ultra-rapid PCR amplification and thermocycling. The EvoCycler costs about 50% less than comparable capabilities. Its small size offers another advantage by allowing molecular diagnostics to sit on the desktop. About Evogen Evogen Inc. is the culmination of the merger of two leading independent companies bringing together technologies to meet the ever-evolving needs of the biodetection industries. Evogen Ltd. merged with Sceptor Industries which had been formed in 2002 after the American anthrax attacks to help meet the challenges of providing security against biological and chemical hazards. The new combined company, Evogen Inc., has emerged with the capability to provide accurate, rapid and affordable solutions for biodetection across multiple markets around the globe. Evogen Inc. is based in Kansas City, Missouri. For more information, visit www.evogen.com. About L Capital Partners L Capital Partners invests in development and later-stage companies in the healthcare, technology and energy & environment sectors. To help their portfolio companies realize the promise of transformational change, L Capital Partners is a committed multi-round investor that supports each company with a team of partners, principals and associates who have deep industry and financial expertise. In the technology sector, the firm targets companies in the areas of information technology & security/defense. Established in 2004, L Capital Partners has offices in New York and Tel Aviv. For more information, visit www.lcapitalpartners.com.
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Evogen (formerly Sceptor Industries) Culminates Merger
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