Immuto Scientific closed a $2.3 million seed funding round, the company announced recently.
Wisconsin Investment Partners (WIP) led the round, with participation from the Wisconsin Alumni Research Foundation (WARF), Great Oaks Venture Capital and BrightStar Foundation, among others.
“Recognizing the limitations posed by the standard analytical tools and determined to offer a superior alternative to drug makers, our team of leading scientists and researchers from UW-Madison came together to found Immuto Scientific,” Immuto Scientific CEO Faraz Choudhury said in a statement. “Today, we’re putting to use our cutting-edge technologies to accelerate the drug discovery process and help develop new life-saving therapeutics.”
According to a release, the funds will enable the company to scale up equipment and staffing to provide commercial analytical research services to already-identified drug discovery customers.
The biotech company, which spun out of the University of Wisconsin, provides analytical research services for drug discovery using proprietary technologies that accelerate the drug discovery process.