Adarza BioSystems, Inc., a Rochester, N.Y. and St. Louis, Mo.-based developer and manufacturer of label-free biosensor assays and instruments servicing life science research, drug development and in vitro diagnostics customers, closed a $17M Series C financing.
The round was led by 3×5 RiverVest Fund II, L.P. In conjunction with the funding, RiverVest Managing Directors Dr. John McKearn and Jay Schmelter will join the board.
The company intends to use the funds to further expand production capacity in its St. Peters, MO manufacturing facility and fund final development and commercialization of its first immunoassay product consumable and instrument platform.
Led by newly appointed president Bryan Witherbee, who replaced retiring CEO Dr. Rand Henke, Adarza develops and manufactures immunoassay technology that can identify proteins and genetic markers in medical samples such as blood. The technology, which comes in the form of microchips, enables cancer diagnostics and allergy testing, drug and vaccine development, immunology and infectious diseases research and other applications.
FinSMEs
23/01/2017