Bend-based Amplion Inc., which is developing a platform for personalized medicine, announced it closed a $1 million seed round led by Seven Peaks Ventures, also in Bend.
Other investors include Portland Seed Fund and Cascade Angels. The round also includes Amplion’s investment prizes from the Bend Venture Conference and Roseburg Area Investor Network Conference.
“We have been fortunate to develop early customer relationships with leading pharmaceutical and diagnostics companies, which not only validated our key value propositions, but continue to inform our product development priorities,” Amplion CEO John Audette said in a statement.
Amplion is developing technology to make it easier for drug and diagnostic developers to access and analyze information about clinical biomarkers, which allow for personalized medicine. Biomarkers are forecast to make up a $40 billion market within three years, according to Amplion, which cites MarketsandMarkets.
Amplion plans to use the funding to expand its software engineering and marketing teams in order to ramp up its flagship product.
Seven Peaks is an early-stage venture capital firm founded by Dino Vendetti.
Jan 7, 2015
Staff Reporter-Portland Business Journal