Adarza BioSystems Completes a $6.8 M Series-A Financing
News Oct 09, 2014
Adarza BioSystems, Inc. has announced that it has closed the final tranche of its Series-A financing bringing the total Series-A financing amount to $6.8 million. Proceeds from the financing will be used to launch its first 100-plex immunoassay product consumable and instrument and accelerate development of higher plex highly sensitive assays targeting a variety of biological analytes.
Adarza’s Arrayed Imaging Reflectometry (AIR-Strip™) will bring an unprecedented combination of performance and workflow benefits with high sensitivity, broad dynamic range, precision and assay robustness to life science research, drug development and clinical diagnostics.
Cultivation Capital Life Science Fund and the Venture Capital Unit of Siemens lead the round. David Smoller, General Partner at Cultivation and Director of Adarza said “at Cultivation we are proud to have been the catalyst to this funding for Adarza. Adarza's label-free breakthrough technology, with its massive multiplexing capabilities and simple work flow, will bring exciting and needed benefits in both research and the clinic. We are also, happy to have helped Adarza find its new operations hub in our community. We look forward to providing ongoing support to Adarza through the commercialization phase of its product launch.”
“We were impressed with the power of accurately performing multiplex tests on a robust and stable platform,” explains Ralf Schnell, CEO of the Venture Capital Unit of Siemens. “This technology has many applications and we look forward to working with Adarza management as they make an exciting journey into commercialization.”