Akadeum Life Sciences, Inc. announced an initial close of its Series A financing. The company is pursuing additional investment before final close during Q1 2020. These funds will enable Akadeum to focus its commercial adoption on how to solve longstanding problems in sample preparation.
The investment includes several Michigan-based angel groups in addition to venture groups—such as University of Michigan MINTS—as well as Bay Area-based Berkeley Catalyst Fund, which invests in life science and material science companies. Ted Hou, managing director of Berkeley Catalyst Fund, said, “Akadeum becomes just the second investment for us outside the Bay Area because we believe they have the team, the technology, and the approach to seize multiple market opportunities.”
Concurrent with this round of funding, William Hyun joined Akadeum’s Board as a Series A Director. A respected expert in both research and clinical technology development, Dr. Hyun is recognized for his ability to identify biotechnology opportunities in transformative markets. Dr. Hyun said, “Multiple market segments have been waiting for and are in need of a next-generation isolation solution, and Akadeum has that solution. That is why I’m a repeat investor and have proudly accepted the Series A Director role.”
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