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Swift Biosciences Announces $7 Million Series B Financing

Published: Friday, October 18, 2013
Last Updated: Friday, October 18, 2013
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Funds will support development of next gen sequencing and molecular diagnostic products.

Swift Biosciences, Inc. have announced the recent completion of a $7 million Series B financing led by Fletcher Spaght Ventures.  Also joining in the B round of investment was Renaissance Venture Capital Fund and the Series A investors, including the Mercury Fund, Michigan Accelerator Fund and several Michigan-based individual investors.

Swift Biosciences is a fast‐moving company focused on developing innovative, enabling

technologies for genomics and personalized medicine.  In February 2013, Swift entered the rapidly growing Next Generation Sequencing (NGS) space with its Accel-NGS™ line of sample preparation products. Swift’s myT® Primer technology provides both high sensitivity and specificity in mutation detection, making it ideal for cancer research and diagnostic applications.  myT Primer technology has been non-exclusively licensed to a global diagnostic company.

“This funding will support the expansion of our sales and marketing programs as well as accelerate new product introductions.  Our portfolio of creative, market-driven technologies continues to grow.” said David Olson, PhD, Chief Executive Officer of Swift Biosciences. 

Peter Kleinhenz, a Venture Partner with Fletcher Spaght Ventures, will be joining Swift's Board of Directors.  He commented that "We are excited about participating in the fastest growing life science market and partnering with such a talented team through our investment in Swift.  Their initial products and innovation pipeline offer compelling competitive advantages for next gen sequencing preparation, which is one of the bottlenecks in this field."  

Dr. Olson added “We are pleased to have new investors join our team and we also appreciate the continued support and enthusiasm of our existing investors.”

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