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Precision for Medicine gains financing

Precision for Medicine Inc., a Chevy Chase-based company formed in 2012 to support new approaches to drug development and commercialization, said it secured $150 million in private equity financing to support acquisitions and development.

Company officials said the funding will be used to build the services and infrastructure necessary to support and guide innovative life science companies as they develop and market new products.

Financing was provided by Oak Investment Partners and J.H. Whitney and Co., along with Precision co-founders Ethan D. Leder and Mark P. Clein.