Innovation & Job News

Swift Biosciences nails down $3M in VC

Wednesday, August 18, 2010

Ann Arbor

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

Innovation & Job News

Swift Biosciences nails down $3M in VC

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