Swift Biosciences has scored a $750,000 Series A investment from the
Michigan Accelerator Fund I, money that will help the life sciences start-up accelerate the commercialization of its products.
"The extra financing will help us with product development and launch," says
David Olson, 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 3-year-old company launched its first product (a consumable product for genetic analysis that helps detect mutations in things like cancer, with high sensitivity) last year and is set to launch more similar technologies this spring.
Swift Biosciences has hired one person (a scientist) in 2012. It now employs 11 people and expects to add more people to its staff, but not in the next few months.
"We do expect to expand but it will be later in the year and in 2014," Olson says.
Source: David Olson, CEO of Swift Biosciences
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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