The round was led by Alexandria Venture Investments, with participation from new and existing investors, including Series A round lead investor Serra Ventures. Jonathan Kabakoff, senior principal, science and technology at Alexandria Venture Investments, has taken a seat on Cardea’s board of directors, joining early investor Tim Hoerr, CEO and managing partner at Serra Ventures.
The company intends to use the funds to grow the team and initiate new strategic partnerships through the Cardea Innovation Partnership Program, which facilitates co-development and commercialization of novel applications for the advanced biosensor technology.
Led by Michael Heltzen, Cardea Bio is a commercial manufacturer and developer of graphene-based digital biosensor hardware, software, and molecular infrastructure, which enables application of advanced biosensors to any biological system.
The company will establish collaborations with various companies and scientists through the Innovation Partnership Program to investigate the applicability of its biosensor platform in diverse settings, including agricultural, industrial, and clinical research. Pharmaceutical companies have been early adopters of this technology, using it as a research tool for determining binding properties of biomolecules.
Source: finsmes