Compendia Bioscience lands $3 million VC, plans to create 20 new jobs

Wednesday, December 10, 2008 | Source: Concentrate

Compendia Bioscience plans to use $3 million in newly acquired venture capital to create another 20 jobs in Ann Arbor, more than doubling its current staff.

Most of that $3 million, $1.75 million of it, comes from Michigan's 21st Century Jobs Fund. The rest is matching funds the bio IT firm has raised on its own.

Compendia Bioscience, only 2 years old, has established itself as a leader in research-centric software development. Its products help researchers sift through mounds of biological data, enabling them to find answers to clinical questions quicker.

The company counts 12 of the Top 20 cancer biopharmaceutical firms and more than 12,000 academics as customers. Compendia Bioscience's Oncomine product is now an important tool for cancer researchers in both academia and drug-development companies. The company hopes to expand this platform for research on other diseases and use it to develop intellectual property.

Source: Michigan Economic Development Corporation
Writer: Jon Zemke

Related Company

Compendia Bioscience, Inc.
110 Miller Ave. Floor 2
Ann Arbor, Michigan 48104 Website

Compendia Bioscience, Inc. gathers the world’s high-throughput biology data, making that data interpretable and applicable in target identification/validation, drug development, and clinical research to improve the lives of patients.