GeneWeave raises $12 million series B

Diagnostic company GeneWeave Biosciences Inc. (Los Gatos, Calif.) raised $12 million in a series B round led by existing investor Decheng Capital. Existing investors Claremont Creek Ventures and XSeed Capital also participated. GeneWeave is developing live cell assays that measure bacterial drug resistance or susceptibility, but declined to disclose the development stage of the technology -- dubbed Smarticles -- or specific indications it is pursuing. The company said Smarticles does not use nucleic acid amplification or require sample preparation and has very few steps. ...