Fina Tech Finds $4.5M A Round

[Updated and corrected: 11:06 Eastern, 12/17/09] Fina Technologies, a Cambridge, MA-based startup with computer-modeling software for the financial services industry, said today it has raised $4.5 million in a Series A round of venture capital. Reed Elsevier Ventures led the round, which included an investment from Excel Venture Management. Fina is a spinout of Cambridge-based Gene Network Sciences, which invented Fina’s software and has used the technology to make detailed computer models of biological systems for companies like New York-based drug giant Pfizer to help them develop drugs. [Correction: An earlier version of this story mistakenly said that Fina’s technology was for the life sciences industry, but the firm is actually taking technology originally developed for life sciences research and applying it to clients in financial services.]

Author: Ryan McBride

Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News. Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.