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Axion Biosystems closes $6 million funding round

Tuesday, May 17, 2016   (0 Comments)
Posted by: Kristen Pappaterra
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Atlanta-based biotech company Axion Biosystems closed a $6 million equity financing round, the company announced May 16.

The $6 million, which include funds from the Georgia Research Alliance Venture Fund, will be used to grow Axion's core life science instrumentation product line.

Axion's products are used in the drug discovery and cell therapy markets.Its high-throughput microelectrode array systems for cellular analysis allow researchers to recreate brain activity and heartbeats in the lab to help improve drug safety, drug discovery and disease modeling.

The company also announced Jay Teich, former CEO of Seahorse Bioscience, will join its board of directors.

Source: Atlanta Business Chronicle.

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