Thursday, March 12, 2009

Arcxis Biotechnologies Gets Investment From In-Q-Tel

Pleasanton-based Arcxis Biotechnologies, which develops biomedical devices for extracting, isolating, and purifying RNA and DNA, said Thursday afternoon that the firm has scored an investment from In-Q-Tel, the venture capital arm of the CIA. According to Arcxis, the investment is part of a strategic partnership and technology development agreement with In-Q-Tel, around accelerating availability of its product line. Amount of the investment was not disclosed. Arcxis said that the invesetment was linked to the firm's earlier announced funding round, which was led by Claremont Creek Ventures, Kaiser Permanente Ventures and Alafi Capital. In-Q-Tel invests in companies that support the mission of the CIA and other U.S. intelligence agencies. More information »