ANN ARBOR, Mich., Oct. 12, 2021 /PRNewswire/ -- Akadeum Life Sciences, Inc., today announced the closing of an oversubscribed $17.5 million Series B financing led by Arboretum Ventures. Investors in the round also included Beringea, Agilent Technologies, Lifespan Ventures, BlueStone Venture Partners, Berkeley Catalyst Fund, Michigan Capital Network, Michigan Rise, The University of Michigan, and others. The Company also announced that Dan Kidle, Managing Partner at Arboretum Ventures, has joined the Akadeum board of directors.
Proceeds from the financing will be used to advance global commercialization for Akadeum's proprietary microbubble-based separation platform with applications spanning life science research, including cell therapy and diagnostics. The company will also advance efforts to develop new business-to-business partnerships and expand R&D and new product development.
By using its proprietary microbubble-based technology to easily float target cells, nucleic acids and other biological targets to the top of a sample, Akadeum's next- generation platform solves long-standing problems in separation processes, including volume and throughput restrictions, allowing for virtually any biological entity to be captured. Akadeum's solutions exceed the performance,
system cost, and scalability of current technologies.
"This funding brings new momentum to our effort to deploy our technology platform to empower new scientific discoveries, improve diagnostic sensitivity, and increase access to novel cell therapies," said Brandon H. McNaughton, PhD, Akadeum's President and CEO. "The success of this financing is another indication of the growing interest in the applications of the Akadeum platform technology," added McNaughton.
"We are very pleased to join as investors in Akadeum and see strong potential for their proprietary microbubble-based technology to deliver significant advances in science and strong commercial growth in the years ahead," said Dan Kidle, Managing Partner at Arboretum Ventures.
About Akadeum Life Sciences, Inc.:
Akadeum Life Sciences was formed to solve-longstanding sample preparation problems in research, diagnostics, and cell therapy markets with a novel floatation-based target isolation platform technology. Without the critical step of separation (isolating biological targets like DNA, proteins, or cells from biological samples), many diagnostics and therapies would not be possible. More than a solution to a single problem, this elegantly simple platform technology is disrupting the
separation market—from nucleic acid extraction to cell isolation.
The company was the first to commercialize Buoyancy Activated Cell Sorting (BACS™) microbubble kits for cell isolation applications. In parallel, the company is also establishing industry partnerships. The company is located in Ann Arbor, MI.
To learn more about Akadeum and its products, visit https://www.akadeum.com.
Inquiries into Akadeum's products or technology can be made at [email protected]
SOURCE Akadeum Life Sciences