Strand Raises Series B From Burrill & Company
BANGALORE, February 11, 2013 /PRNewswire/ --
Genomics Towards Precision Medicine
Today, Strand Life Sciences announced that San Francisco-based Burrill & Company has completed a Series B round of financing in the Bangalore, India-based company.
Burrill & Company, a diversified global financial services firm focused on the life science industry, is the sole investor in this round. The financing included both a primary investment into Strand Life Sciences and a secondary buy-out of the lead Series A investors.
The proceeds of the financing of the Series B is to accelerate the growth of the company's evolution into precision diagnostics in healthcare and expand Strand's reach into global markets. Strand will leverage its expertise in genomics and analytics that it has developed over a decade. In taking its technology platforms from bench to bedside, Strand is uniquely positioned to bring the power of high precision genomic measurement methods such a Next Generation Sequencing (NGS) to applications in screening and identification of diseases with genetic-basis and in precisely classifying cancer types to personalize therapy and care.
Speaking on the occasion, Dr. Vijay Chandru, the Founder, Chairman and CEO, Strand Life Sciences, said that the company is delighted that the world's premier investment fund in the life sciences industry chose to support Strand. This investment will help Strand realize the true potential of its proven strengths in data science and multi-disciplinary bench analytics by taking them into the clinic.
Mr. David Wetherell, President and Chief Operating Officer, Burrill Healthcare Venture and Private Equity Funds, said, "We are particularly pleased to be making this investment in Strand Life Sciences. Strand is strongly positioned to play a pivotal role in the transformation of healthcare due to the convergence of information technology and life sciences."
Dr. Tania Fernandez, Director, Burrill & Company added, "Our investment in Strand Life Sciences reflects our continued commitment to the life science sector in India. We constantly analyze the Indian life science landscape, in search of leading edge platform technologies and products, helping companies develop these to full potential and expanding their access to global markets. Strand is a leading-edge bioinformatics company developing healthcare applications. We intend to work with Strand to help them build a preeminent position globally in what we consider the future of medicine: next-generation sequencing (NGS) and its applications in healthcare."
About Strand Life Sciences Pvt. Ltd.
Strand Life Sciences - "Strand" - has pioneered the practice of data science in life and health sciences. Strand's segue into the life sciences was through informatics products and services for research biologists, chemists, and toxicologists that combine advanced visualization, predictive systems modeling, data integration and scientific content management. Over 2000 research laboratories worldwide (about 30% of global market share) are licensees of Strand's technology products as are several leading pharmaceutical and biotechnology companies. Strand and its partner Ganit Labs share additional 10,000 square feet of laboratory space with state of the art clinical genomics capabilities and capacity for pre-clinical toxicology assays of lead compounds.
About Burrill & Co.
Founded in 1994, Burrill & Company is a diversified global financial services firm focused on the life sciences industry. With $1.5 billion in assets under management, the firm's businesses include venture capital/private equity, merchant banking, and media. By leveraging the scientific and business networks of its team, Burrill & Company has established unrivaled access and visibility in the life sciences industry. This unique combination of resources and capabilities enables the company to provide life sciences companies with capital, transactional support, management expertise, insight, market intelligence, and analysis through its investments, conferences, and publications. Headquartered in San Francisco, the company oversees a global network of offices throughout the United States, Latin America, Europe, and Asia. For more information, visit: www.burrillandco.com.
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SOURCE Strand Life Sciences