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Swift Biosciences Raises $12.2M

NEW YORK (GenomeWeb) – Swift Biosciences announced today that it has raised $12.2 million through a Series D round of financing.

The round was led by venture capital firm Arboretum Ventures and included existing Swift investors. The company, which develops next-generation sequencing sample prep technologies, said that it intends to use the funding to expand its global commercial channels, as well as enhance its manufacturing and operation capabilities.

"This is an exciting time for Swift as we expand our commercial and manufacturing teams to meet the growing demand for our products," Swift President and CEO Timothy Harkins said it a statement.
"Swift's products have been one step ahead of the market, positioned to enable the new applications coming from low-input samples like detecting tumor variants in liquid biopsies."

Concurrent with the round, Swift has expanded its board to seven members from five, adding Arboretum Principal Dan Kidle — who has been named chairman — and former Illumina SVP of Development and SVP of Customer Solutions Mark Lewis.