The financing, which was led by North Bridge Venture Partners, with various angel investors also contributing, is to be used to support Aushon's current product launch and new product development.
Aushon's 2470 initial microarrayer instrument was unveiled at Boston's Discovery to Diagnostics Conference in September. The 2470 can produce very high quality microarrays of a wide variety of biological materials, including those at the forefront of much current research - proteins, antibodies and cell lysates.
The human genome contains approximately 25,000 genes; the human proteome approximately 1,000,000 protein variants. Most animals and plants of commercial interest have genomes and proteomes of comparable size. One of the keys to future discoveries in life-science, pharmacology and diagnostics is the ability to process genomic and proteomic assays in massively parallel formats; both will be required to unravel the complexities of biological systems and to enable genome-based/proteome-based diagnostics and drug discovery.
John Austin, President of Aushon said, "To have the financial backing and management support of a top tier venture capital firm such as North Bridge is a significant validation of Aushon's approach to this rapidly expanding market. We are extremely pleased to have North Bridge as a partner."
Rich D'Amore, a Managing Partner at North Bridge and an Aushon Board Member said: "Advances in the development of multiplexed-assay and microarray applications have great potential to speed the pace of research, in addition to opening up new options for diagnostics. We are excited to be working with Aushon BioSystems in the development of cutting-edge products in this arena."
For more information on Aushon BioSystems, please visit www.aushon.com.
About Aushon BioSystems
Aushon BioSystems Inc. is a privately owned corporation applying advanced engineering and systems-engineering approaches to the challenges of developing life science markets. Aushon is leveraging its capabilities to develop a set of products and capabilities at the confluence of life science and advanced engineering.
Currently, Aushon BioSystems is developing the ability to produce high-quality, flexible and affordable genomic and proteomic microarray products for use in life science research, drug discovery/development, and clinical diagnostics. For more information, please visit www.aushon com
Contact: For Aushon BioSystems: SGN Public Relations and Marketing Suzanne Gibbons-Neff, 617-670-1763 Suzanne@sgn.com
Source: Aushon BioSystems
