PhyloTech closes $1.2M Seed financing round

Jul 7 2010

PhyloTech, Inc., announced today it closed a $1.2 M Seed financing round in June. The Company provides analysis of over 50,000 bacterial and archaeal taxa in samples from any source to solve problems in human health, environmental damages assessment, bioremediation, recreational water quality, drinking water and food safety, and an array of other applications.

PhyloTech was founded in June 2009 based on proprietary PhyloChip™ and related technology invented in Dr. Gary Andersen's lab at the Lawrence Berkeley National Laboratory. The invention won The Wall Street Journal 2008 Technology Innovation Award in the "Environment" category, and is considered one of the top Berkeley Lab breakthroughs since the lab's founding in 1931.

Individual investors led the seed financing round with Seraph Group and Wavepoint Ventures joining a second closing. The funds enable PhyloTech to commence operations. The Company is ready to take customer orders for comprehensive, quantitative and sensitive analysis, starting with extracted DNA from any sample or frozen water filters.

PhyloTech was founded by Corey S. Goodman, PhD, a noted entrepreneur and member of the National Academy of Sciences, recently President of Pfizer's Bioinnovation Center, and formerly founder of Exelixis and Renovis; Gary Andersen, PhD, inventor of the technology and Principal Investigator at Lawrence Berkeley National Labs; Thane Kreiner, PhD, start-up CEO of iZumi (now iPierian) with 14 years leadership roles at Affymetrix; and John Hulls, leader of the State Water Resources Control Board 'PhyloChip Project', funded under the Proposition 50 Clean Beaches initiative.

Dr. Goodman, Chairman of the Board, and Dr. Kreiner, CEO and President, are joined on the Board of Directors by Matt Winkler, PhD, founder of Ambion, "The RNA Company", CEO of Asuragen and Chairman of the Board, Mirna Therapeutics; Peter Gleick, PhD, co-founder and President of the Pacific Institute, member of the National Academy of Sciences, MacArthur Fellow, and a noted global expert on water; John Kao, MD, author of Innovation Nation and strategic advisor to governments and agencies worldwide; and Peter Gardner, a managing director of Wavepoint Ventures.

Dr. Janet Warrington, who has 14 years experience translating technology breakthroughs from research to commercial applications and establishing standards with government agencies, including 12 years at Affymetrix, will head PhyloTech's R&D and Operations. Dr. Andersen will serve as Chair of the Scientific Advisory Board.