DURHAM, N.C. (April 8, 2008) – ArtusLabs, a leading provider of life science software tools and data management solutions, today announced that the company has closed a $2.6 million round of venture financing. The Series A round was led by Hatteras Venture Partners and Southern Capitol Ventures.
ArtusLabs was founded by the award-winning management team that built Sythematix, the software solutions company that pioneered the Enterprise Electronic Lab Notebook marketplace and was eventually acquired by Symyx Technologies, Inc. (NASDAQ: SMMX) in 2005.
“We are thrilled to partner with Robin Smith and Brian Ballard to build the next generation research informatics company,” said Clay B. Thorp, general partner at Hatteras Venture Partners. “They have assembled the same world-class team that built Synthematix. ArtusLabs is demonstrating the ability to generate rapid value by focusing this proven team of people on this tremendous pain-point in research informatics.”
The company’s technology platform, Ensemble for Life Science, has the potential to significantly reduce the research and development time a pharmaceutical and biotech organization spends discovering and developing novel therapeutic compounds. ArtusLabs will use the investment to expand its technology platforms breadth of service, marketing efforts and to fund new product development initiatives.
“A competitive marketplace has put intense pressure on life science companies to better streamline costs and increase operating efficiencies,” said David Jones, a principal at Southern Capitol Ventures. “ArtusLabs has developed software solutions with the latest Web 2.0 technologies that directly address these challenges. The company’s innovative technologies and outstanding management team makes it a very attractive addition to our portfolio.”
“We are all very excited to be working again with this group of investors,” said Smith, chief executive officer of ArtusLabs. “There is a growing pain-point in the life science industry when it comes to software solutions. From outdated platforms to obtuse licensing schemes, ArtusLabs was created to reinvent the way a life science enterprise uses its organizational data assets.”
The life science industry spends nearly $900 million a year on data management solutions and another $300 million on internal programs. ArtusLabs innovative approach has been very well received by early participants in our development programs as well as early commercial adopters of Ensemble for Life Science.
About ArtusLabs
ArtusLabs is a technology company which is delivering scientific data management software and services designed to enhance workplace collaboration and accelerate the rate of drug discovery. ArtusLabs was founded by the same proven team that formed Synthematix, the start-up that pioneered the Enterprise Electronic Lab Notebook marketplace. This leadership team has extensive expertise in processing, mining and managing complex scientific data and information generated from research activities. The company’s flagship product, Ensemble for Life Science, is a unique software solution for organizing data. It blends social networking, personal publication, and refined data mining to both internal and external research communication and management. For more information visit www.artuslabs.com .
About Hatteras Venture Partners
Hatteras Venture Partners is a venture capital firm based in Research Triangle Park, NC, with a focus on biopharmaceuticals, medical devices, diagnostics, and related opportunities in human medicine. Founded in 2000, the firm consists of an experienced team with a broad and complementary skill set that is particularly relevant to building successful new biomedical companies. The Hatteras Venture Partners team brings operational experience, a successful track record, and a proven ability to enhance the value of the. companies in which it invests. With three funds, the firm has more than $120 million under management. For more information, please visit: www.hatterasvp.com.
About Southern Capitol Ventures
Southern Capitol Ventures (SCV) is a Raleigh, North Carolina-based venture capital firm dedicated to helping outstanding entrepreneurs build market-leading companies. The firm is focused on providing capital and guidance to early-stage technology companies across the Southeast and Mid-Atlantic. Previous investments have included Art.com, DoublePositive, Batanga, ChannelAdvisor and Synthematix (acquired by Symyx NASDAQ:SMMX). For more information, please visit www.southerncapitolventures.com.
Media Contact: Amanda Brown ClearImage (919) 863-2393 ext. 212 amanda.brown@clearimagepr.com
