Isentio AS, a Bergen, Norway-based research company based on DNA analysis methods, has raised $1.5m in venture capital funding.
The round was led by new investor Sarsia Seed AS, with participation from existing investors.
The company intends to use the new funds to grow sales, marketing and support, as well as to accelerate the development of new application areas.
Founded in 2005 and based on research done on advanced DNA analysis methods by the three founders, Øyvind Kommedal, Øystein Sæbø and CEO Bjarte Karlsen, iSentio has already introduced its software to the market.
The RipSeq(R) software is a web-based sequence analysis solution for identification of multiple bacteria after direct sequencing of clinical patient samples. It is currently in use at hospitals both in Europe and in the USA.
In conjunction with the financing, Sarsia Seed will take two seats on the board of the company, whose new Chairman is Siri Fürst.
With a background from finance, investor relations and strategic business development, She brings to the company a broad experience from the Life Science industry, having held various managerial positions at Hafslund, Hafslund Nycomed and Nycomed Pharma. Siri Fürst also served as CEO at DiaGenic ASA. In 2005 she joined Considium Consulting Group AS.
FinSMEs
17/01/2011