Battelle Pumps $70M Into Fund R&D giant refills coffers of venture affiliate.

June 28, 2007

Sprawling research giant Battelle, which manages five national laboratories, is pumping $70 million in fresh funding into its 4-year-old venture arm, in a move that could spell more financing for laboratory spin-offs.

The infusion by Battelle, announced Monday, brings the total under management by Battelle Ventures to $255 million, including $35 million from Knoxville, Tennessee-based Innovation Valley Partners, an affiliate fund with the same managers.

By Ken Schachter

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