PLEASANTON, CA--(MARKET WIRE)--Jan 30, 2009 -- Arcxis Biotechnologies, a privately held biomedical device firm, announced today that it has completed the first close of its Series B round. Claremont Creek Ventures, who led the round, was joined by Kaiser Permanente Ventures and Alafi Capital. These funds will enable Arcxis to accelerate development, testing, and commercialization of their innovative nucleic acid sample preparation platform and their next generation sample to answer clinical molecular diagnostic platform.
By rapidly isolating, identifying and characterizing genes and proteins, Arcxis Biotechnologies' products will enable faster, more accurate and more economical diagnosis of infectious diseases and other conditions marked by genetic and proteomic changes, such as cancer. The company's products may also be used for environmental and epidemiological applications.
"Claremont Creek Ventures is excited about the ongoing investment in Arcxis which will help the company bring this important new technology to clinical molecular laboratories around the world. Arcxis' expertise has enabled the development of one of the most promising clinical molecular diagnostic platforms in the industry," stated John Steuart, Managing Director.
"This 2nd round of institutional investment enables us to initiate the commercial development programs in our strategic plan," said Chris Meda, president and chief executive officer of Arcxis. "Given the current financial market, it is indeed exciting to have the confidence of our investors."
About Claremont Creek Ventures
Claremont Creek Ventures is a venture capital firm that specializes in early stage information technology start-ups. One of the firm's chief areas of interest is the interface between IT and healthcare. Claremont Creek's investment professionals share a deep commitment to helping entrepreneurs build successful companies from the ground up, drawing from decades of entrepreneurial, operational, and investment experience in the mobility, healthcare and security markets. Founded by Managing Directors Nat Goldhaber, Randy Hawks, and John Steuart, the firm is based in Oakland, California. For more information, please visit www.claremontvc.com.
About Kaiser Permanente Ventures
Kaiser Permanente Ventures, the corporate venture capital arm of Kaiser Permanente, makes investments in medical devices, healthcare services and information technology companies. Kaiser Permanente Ventures is dedicated to partnering with entrepreneurial companies to build innovative and enduring businesses that advance the quality and affordability of health care. Since its inception in 1997, Kaiser Permanente Ventures has invested in more than 30 venture-capital backed companies at all stages of development, and contributed organizational expertise, time and resources to the success of these companies. For additional information please visit www.kpventures.com.
About Alafi Capital
Alafi Capital is a private venture capital firm that has been active in healthcare investing for over 25 years. Early and mid-stage investments in the U.S. and Europe are considered, with emphasis on product-oriented biotechnology, life science technologies, imaging and diagnostics, and medical devices. Included among Alafi Capital's past successes are Amgen, Biogen, Molecular Devices, Tanox, Qiagen, Novocor, Oxford Glycosciences, and Applied Biosystems.
About Arcxis Biotechnologies
Arcxis Biotechnologies headquartered in Pleasanton, California, is a venture backed company that was formed to develop next generation products for disease pathogen detection for use in clinical molecular diagnostics. The company is developing the Xisyl(TM) workstation, a nucleic acid sample preparation platform and the BioPhalanx(TM) analysis workstation, a molecular diagnostic sample to result system to dramatically change clinical laboratory workflows. For additional information, please visit the company's website (www.arcxis.com) or call (925) 461-1300.
Howard D. Goldstein
Chief Commercial Officer