SOURCE: Arcxis Biotechnologies

August 23, 2006 09:30 ET

Arcxis Biotechnologies Announces Series A Financing

PLEASANTON, CA -- (MARKET WIRE) -- August 23, 2006 -- Arcxis Biotechnologies, a privately held biomedical device firm, announced today that it has completed a Series A round of financing of nearly $2,250,000. The funds, invested by Claremont Creek Ventures, will enable Arcxis to accelerate development, testing, and commercialization of their products for rapid diagnostics, pathogen handling and sample preparation.

By rapidly isolating, identifying and characterizing genes and proteins, Arcxis Biotechnologies' products will enable faster, more accurate and more economical diagnosis of infectious diseases and other conditions marked by genetic and proteomic changes, such as cancer. The company's products may also be applied to environmental and epidemiological applications aimed at protecting individuals and communities from infectious disease outbreaks.

"This first round of institutional investment enables us to hire key employee talent, make certain equipment purchases, and initiate the commercial development programs in our strategic plan," said Howard D. Goldstein, president and chief executive officer of Arcxis. "These activities would not be possible at this time without capital support from Claremont Creek."

"Claremont Creek is impressed with Arcxis's core technologies and products," said John Steuart, co-managing director of Claremont Creek Ventures. "We see strong potential for Arcxis' point-of-care diagnosis technology in national defense, clinical research, and other medical markets. We also like their entrepreneurial zeal -- it makes Arcxis a good match for our philosophy of funding talented managers."

About Claremont Creek Ventures

Claremont Creek Ventures is a venture capital firm that specializes in early stage information technology start-ups. Founded by Managing Directors Nat Goldhaber, Randy Hawks, and John Steuart, the firm focuses on IT sectors where its partners have deep domain expertise, including the mobility, healthcare and security markets. Claremont Creeks' investment professionals share a deep commitment to helping entrepreneurs build successful companies from the ground up, drawing from decades of entrepreneurial, operational, and investment experience. The firm is based in Oakland, California, where it works closely with nearby research-driven "incubating institutions," such as UC Berkeley, UC Davis, and the Lawrence Livermore and Berkeley Laboratories. For more information, please visit http://www.claremontvc.com/.

About Arcxis Biotechnologies

Arcxis Biotechnologies is a maker of laboratory systems for disease pathogen detection and clinical diagnostics. Headquarters are in Pleasanton, California. For additional information, please call (925) 461-1300 or visit www.arcxis.com.

Contact Information

  • Contact:
    Howard D. Goldstein
    President & CEO
    Arcxis Biotechnologies
    Direct 925-461-1300
    Email Contact