Akadeum Life Sciences Announces First Closing of Series A Financing Round
Akadeum closes funding to further commercialize its BACS™ Microbubble platform for next-generation sample preparation applications.
ANN ARBOR, Mich., Dec. 19, 2019 /PRNewswire-PRWeb/ -- Akadeum Life Sciences, Inc. announced an initial close of its Series A financing. The company is pursuing additional investment before final close during Q1 2020. These funds will enable Akadeum to focus its commercial adoption on how to solve longstanding problems in sample preparation.
The investment includes several Michigan-based angel groups in addition to venture groups—such as University of Michigan MINTS—as well as Bay Area-based Berkeley Catalyst Fund, which invests in life science and material science companies. Ted Hou, managing director of Berkeley Catalyst Fund, said, "Akadeum becomes just the second investment for us outside the Bay Area because we believe they have the team, the technology, and the approach to seize multiple market opportunities."
Concurrent with this round of funding, William Hyun joined Akadeum's Board as a Series A Director. A respected expert in both research and clinical technology development, Dr. Hyun is recognized for his ability to identify biotechnology opportunities in transformative markets. Dr. Hyun said, "Multiple market segments have been waiting for and are in need of a next-generation isolation solution, and Akadeum has that solution. That is why I'm a repeat investor and have proudly accepted the Series A Director role."
The company is identifying new and broad applications for its proprietary microbubble technology with partnering companies to incorporate microbubbles as a key enabling component of their own new products. Currently, Akadeum is focused on several markets such as liquid biopsy, cell therapy, food pathogens and others. Most recently, Akadeum announced a partnership with Agilent Technologies, which is also an investor in the company.
Akadeum will build upon its launch earlier this year of several kits that are for research applications in the life sciences. Already, customers are finding the product to be fast, efficient, and useful in areas like cancer and immunology research. According to a University of Wisconsin researcher, Ichwaku Rastogi, "Akadeum was quicker than any other kit I have used before."
Akadeum technology will improve workflow, performance, and sample integrity where current technology falls short and create new possibilities with its flotation-based isolation technology. The technology uses tiny floating particles, "microbubbles," and gravity to permit the capture of virtually any target in a biological or chemical sample. Use of microbubbles in an isolation workflow enable large liter-scale applications of numerous samples—beyond the limits of existing approaches, such as magnetic separation.
Additionally, Akadeum will be in San Francisco during the JP Morgan Healthcare Conference and presenting on January 14, 2020 at the Biotech Showcase. To further discuss partnership opportunities or to learn more about Akadeum and its platform technology, visit http://www.akadeum.com or contact firstname.lastname@example.org.
About Akadeum Life Sciences:
Akadeum Life Sciences, Inc, is a private early stage life sciences company based in Ann Arbor, MI. Founded in 2014, Akadeum was established to create advanced isolation products and to fundamentally change the way that isolating chemical and biological targets is approached. Akadeum's goal is to enable entirely new assays and workflows by delivering a technology that can isolate any sample, any volume, anywhere.
SOURCE Akadeum Life Sciences, Inc.