NEW YORK (GenomeWeb News) – Swift Biosciences announced on Wednesday the recent completion of a $3 million Series A financing round led by venture firm DFJ Mercury.
Also participating in the round were several unnamed Michigan-based individual investors who provided seed funding to Swift when it launched in January. The company also said that Daniel Watkins, a managing director at DFJ Mercury, is joining Swift's board.
In a statement, Swift CEO David Olson said that the funding will help accelerate product development and customer testing.
Based in Ann Arbor, Mich., Swift develops molecular biology reagents for research and diagnostic applications. The company said that its products will provide customers "with powerful new ways to examine disease-related genes." It added that it also aims to help quicken the analysis time for samples and at higher volume, while lowering price per sample.
Swift's products are designed so they can be used with a researcher's current instrumentation, it said.