Amplion Research is kicking 2015 off with a bang. The Bend-based startup announced that it has closed a $1 million seed round, led by Seven Peaks Ventures, which is also here.
The round also includes investments from Cascade Angels, the Portland Seed Fund as well as prizes from the Bend Venture Conference and the Roseburg Area Investor Network Conference.
From the Portland Business Journal:
“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.
You can reach Kelly by email at [email protected].