Swift Biosciences Inc., an Ann Arbor, Michigan-based life sciences company that is developing molecular biology reagents for research and diagnostic applications, completed a $3m Series A financing.
The round was led by DFJ Mercury, with participation from Michigan-based individual investors, who also helped launch the company with seed funding in January 2010.
In conjunction with the funding, Daniel Watkins of DFJ Mercury will join the company’s board of directors.
The new capital infusion will help the company accelerate development and customer testing for its molecular biology reagents, which will provide customers with innovative ways to examine disease-related genes.
Swift’s products are designed to be compatible with customers’ current instrumentation.
Commenting on the funding, David Olson, PhD, Chief Executive Officer of Swift Biosciences, was quoted as saying: “DFJ Mercury is an ideal partner for us as we grow from the idea stage into commercial launch”.
Daniel Watkins, a managing director at DFJ Mercury, added: “Swift Biosciences’ genetic analysis technology has the potential to significantly advance molecular diagnostics and biomedical research”.