KIYATEC Announces Initial Close on Series A Funding Round  
5/24/2012 10:26:00 AM

GREENVILLE, S.C.--(BUSINESS WIRE)--KIYATEC Inc. today announced the initial close of its Series A funding round. The financing was led by institutional investor Nexus Medical and Technology Capital (Greenville, SC and Quincy, MA) and Greenville, SC based Upstate Carolina Angel Network, and included additional private investors. Contingent with this close, SC Launch and other debt investors now have equity positions in the company. Proceeds from the initial financing will be used to advance two 3D cell-based assays for more predictive evaluation of cancer efficacy and certain kinds of liver toxicity for drug and biologic candidates.