St. Louis-based biotechnology company Adarza BioSystems said Tuesday it has raised $25 million in Series D financing as it readies to commercialize its first product.
The Series D funding round was co-led by Portland-based 3×5 Partners and Lightchain Capital, the family office of Scottrade founder Rodger Riney. The round also includes follow-on investments from Serra Ventures, Holton Capital Group and BioGenerator. The fresh financing follows Adarza’s $17 million Series C round in 2016 and brings the startup’s total capital raised to $54 million.
Ardarza CEO Bryan Witherbee said his company will use the new funds to prepare for and undertake full commercialization of its ZIVA platform, a biological testing device designed to assist researchers with disease profiling and drug development.