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Novocell Raises $25 Million

Novocell Inc., a San Diego-based stem cell engineering company, has raised $25 million in Series C funding. Johnson & Johnson Development Corp. led the deal, and was joined by return backers Sanderling Ventures, Asset Management Co.and Pacific Horizon Ventures. Novocell has now raised around $74 million in total VC funding since its 1999 inception. www.novocell.com