St. Louis-based Single Family Office Invests In Adarza's $25M Funding Round

Adarza BioSystems is a biotech startup from St. Louis that is working on an automated biological testing platform. Now, the startup received a $25M Series D funding round. One of the main investors is the also St. Louis-based single family office Lightchain Capital LLC.

Developing automated biological testing platforms

Since its launch in 2008, Adarza has developed an innovative biosensor assays and instruments for pharma companies and research purposes. Through Adarza’s solution, customers can analyze fluid sambles without difficulat proccesing steps. Thereby, the analysis through Adarza’s platform is faster and easier than usual procedures – and can add significant value to pharma companies. Through the now raised funds, the company wants to support the full commercialization of its platform (called ZIVA). In 2018, the company moved to a new facility in the Pageview Business Center in St. Louis West Country suburb Maryland Heights.

St. Louis Single Family Office Lightchain Capital LLC

The recent $25M funding round was announced on Feb 4, 2020. Venture capital firm 3×5 Partners led the round together with Lightchain Capital LLC, the single family office of Rodger Riney. Rodger Riney is the founder of Scottrade. His net worth is estimated at $3.6BN,his single family office lightchain actively invests in biotech startups. The total funding until today raised through the round to $54M.

Sources
Adarza BioSystems, 5.02.2020

Kirk Thornton via Unsplash