Adarza raises $25 million, moves toward commercialization

Biotech company Adarza Biosystems has raised $25 million to support commercialization of its research technology.

Lead investors in Adarza’s series D venture capital round are 3×5 Partners, based in Portland, Oregon, and Lightchain Capital, the family office of Scottrade founder Rodger Riney.

Adarza, based in Maryland Heights, makes diagnostic systems for researchers and drug companies. It plans to launch its testing platform commercially in June.

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