MADISON, Wis.--(BUSINESS WIRE)--BioSystem Development, creator of the AssayMAP® microchromatography technology, announces the recent closure of a fully-subscribed fundraising round, raising just over 1 million dollars (USD). A total of $750,000 of new equity was raised from individual angel investors and a loan from the Madison Development Corporate Venture Debt Fund contributed $300,000. The proceeds will be used to scale up the company’s manufacturing capabilities, increase the speed to market for new products and support pipeline expansion. Founder and Chief Executive Officer Scott Fulton stated, “We are pleased to close the round. This funding allows us to respond to increased demand from our strategic partners.” This demand is in part created by the launch of the AssayMAP Bravo® system, a fully automated high-throughput instrument co-developed with Agilent Technologies.
