July 9, 2014
Brian Feldt of the St. Louis Business Journal today reported that St. Louis startup Adarza has secured $2 million in funding. Leading the round was Cultivation Capital, a powerhouse in the St. Louis area.
Adarza is a life-science startup housed in St. Louis’ BioGenerator accelerator lab, a privately funded nonprofit designed to facilitate the formation of successful bioscience companies in St. Louis, in the Cortex 1 building. Rand Henke, Adarza’s CEO, said that the money would be going directly towards supporting future expansion and product development.
The immunoassay technologies created by Adarza can actually help identify proteins and genetic markets in medical samples and may even further cancer diagnostics as well as allergy tests. They’re drawing a lot of attention these days as they also received $11 million in research funding from state and federal grants recently.
Cultivation Capital established a life science fund in 2013, currently headed up by Brian Matthews, which aims to invest around $300 million over the next five years. So, keep your eyes peeled because there’s definitely more news coming on this front soon.
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