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Adarza BioSystems Raises $6.8M in Series A Round

NEW YORK (GenomeWeb) – Adarza BioSystems has closed the final tranche of a Series A round of financing that brought in a total of $6.8 million.

The West Henrietta, NY-based firm has developed a label-free, multiplex biosensor platform based on its Arrayed Imaging Reflectometry technology. According to the firm, the platform can rapidly identify and quantify a series of biological target analyte species in a fluid sample without the use of chemical labels.

The firm said it would use proceeds from the Series A round to launch its first 100-plex immunoassay consumable and instrument and accelerate the development of higher-plex assays for a variety of biological analytes. It didn't disclose the targets of the immunoassay product.

The firm previously received two SBIR grants from the National Institutes of Health to develop antibody arrays for detecting protein biomarkers that may indicate early cancer and for monitoring the levels of proteins linked to potentially toxic environmental exposures.

The financing round was led by Cultivation Capital Life Science Fund and the venture capital unit of Siemens.