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Swift Biosciences nails down $3M in VC
Wednesday, August 18, 2010
| Source:
Concentrate
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Usually a few million dollars in venture capital doesn't go all that far with life sciences start-ups, but Swift Biosciences expects to stretch its $3 million in seed capital all the way to commercialization.
"We expect to have products ready for the market with this money," says David Olson, president and CEO of
Swift Biosciences
.
The Ann Arbor-based start-up is developing molecular biology reagents for research and diagnostic applications that provide new ways to examine disease-related genes. This technology is expected to help researchers analyze samples faster, at a higher volume, and at a lower price-per-sample.
The 1-year-old firm started with two people and now employs four. It is in the process of hiring a fifth. It expects to make two more hires within the next six months as it ramps up research, development, and commercialization of its product. Houston-based
DFJ Mercury
led the latest round of fundraising and helped form the company at its outset.
Source: David Olson, president and CEO of Swift Biosciences
Writer: Jon Zemke
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