Finance

Biospecimens firm raises $4M to reach cash flow break even

Published in Managed Care Weekly Digest, September 6th, 2004

Ardais Corporation announced it has raised $4 million from current investors, including Advanced Technology Ventures, Advent Health Care and Life Sciences, BioVentures Investors, EGS Healthcare Capital Partners, Federated Kaufmann Fund, Lancet Capital, Pequot Private Equity Fund, and Silicon Valley Bancshares.

With this capital, the company is accelerating the commercialization of its new IT-based portfolio of biospecimen management solutions for both academic medical centers and pharmaceutical/biotechnology companies.

Donald B. Hawthorne, Ardais' recently-appointed CEO, explained: "Since its inception, Ardais has successfully set the gold standard...

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Source: Managed Care Weekly Digest (2004-09-06)

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