Gen-Probe Raises $10 Million in Venture Capital

Gen-Probe Inc., a San Diego-based DNA probe technology company, raised $10 million in its fourth round of venture-capital financing, the company said Thursday. Gen-Probe will use the funds to bolster manufacturing capacity and to develop new products, according to Vice President Howard Birndorf.

Gen-Probe’s new institutional investors are Prudential Venture Capital Management, Inc.; HK Partners, associated with the Horsley Keough Venture Fund; Alex. Brown & Sons and its EGC Limited Partnership subsidiary; Cowen & Co.; New York Life Insurance Co.; Hambrecht & Quist Healthcare Investors and the Aeneas Venture Corp.