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12:00 AM
 | 
Feb 23, 2004
 |  BioCentury  |  Strategy

Completing the metamorphosis

Morphotek Inc. expects the $26 million it raised in a C round last week to enable it to complete its transition from a toolkit company to a profitable product company. It also expects the round to be its last venture financing.

"Morphotek was founded in 2000 based on morphogenics, and was initially a technology toolbox for pharmaceutical target discovery and product optimization," said CEO Nicholas Nicolaides.

Morphogenics is a process that takes place in culture, and is used to drive the evolution of cells and cellular proteins. In mammalian cells, it is done by inserting a gene into the cell...

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