HemoShear LLC, a Charlotteville, Va.-based biotechnology research company and developer of human and animal cell-based surrogate systems for discovery and assessment of new drug compounds, closed a $4m fourth equity financing.
Backers were not disclosed.
The company intends to use the funding to move to larger lab and office facilities next year, invest in scientific and business staff, and provide working capital to accelerate growth.
Led by Jim Powers, CEO, and Brian Campbell, CFO, HemoShear creates human-relevant systems that replicate the biology of organ systems and diseases for drug discovery and development working with pharmaceutical, biotechnology and medical device companies.
Founded in 2008, the company currently has thirty employees.