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Swift Bio Completes $7M Series B Financing

NEW YORK (GenomeWeb News) – Swift Biosciences today said it has completed a Series B financing round that raised $7 million.

Fletcher Spaght Ventures led the round and was joined by Renaissance Venture Capital Fund and Series A investors, including Mercury Fund, Michigan Accelerator Fund, and individuals.

"This funding will support the expansion of our sales and marketing programs, as well as accelerate new product introductions," Swift Bio's CEO David Olson said in a statement. "Our portfolio of creative, market-driven technologies continues to grow."

Peter Kleinhenz, a venture partner at Fletcher Spaght, is joining Ann Arbor, Mich.-based Swift Bio's board.

The company develops technologies for genomics and personalized medicine. Earlier this year, it entered the next-generation sequencing market with the launch of its Accel-NGS sample preparation products.

Late in 2012, it licensed its myT Primer technology to Vela Diagnostics. In 2010, the company raised $3 million in a Series A round, and added $2.4 million in follow-on financing in early 2012, as PCR Insider reported at the time.