The additional capital will accelerate the growth of Axion’s core product line of life science instruments.
‘Axion products are being adopted at an ever-increasing rate around the world,’ said Tom O’Brien, CEO. ‘To maintain our rapid growth, we need to invest further in our global sales channel and in the support system for our growing list of pharmaceutical, biotech, academia and government customers. ”
The Georgia Research Alliance (GRA) has supported Axion since its inception in 2008. In this round of equity financing, the GRA Venture Fund, LLC led the investment ‘We know the management team well and have confidence in their ability to carry out their plan,’ said Michelle Jarrard, Managing Director of the GRA Venture Fund. ‘In addition, we believe that their products address existing and emerging needs in the market for drug discovery and cell therapy ”
At the same time as the funding closes, Axion is pleased to announce that Jay Teich will join the Board of Directors of the Company. Teich is the former CEO of Seahorse Bioscience, a cell metabolism company that was sold to Agilent Technologies in November 2015. Teich said, ‘I can see a lot of parallels between Seahorse and Axion. Both companies have used new technology to simplify the complex measurement of cellular activity. The adoption of their tools enables exciting scientific discoveries while creating an attractive growth market. ”
Axion, a proud member of Atlanta’s biotech community, was born out of the technology developed by Georgia Tech. Visit http://www to find out more about Axion Axionbio’s Com/Com
Axion BioSystems, Inc.
BioSystems Axion, Inc. It is a life science instrumentation company that develops high-performance microelectrode array (MEA) systems for cellular analysis, allowing researchers to recreate brain activity and heartbeats on the benchtop. As a result, drug safety, drug discovery, and disease modeling are achieved with increased sensitivity, accuracy, and productivity.
On the GRA Venture Fund
The GRA Venture Fund, LLC is a private investment fund that helps finance promising companies from Georgian universities. The Fund makes seed, early-stage and mid-stage investments in companies originating from GRA Ventures, the marketing arm of the Georgia Research Alliance. Fund investors include the State of Georgia, private individuals, corporations and foundations; Visit www for more information. Found the graventure Organ
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