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Ann Arbor’s Swift Biosciences Receives $3 Million for Development of Genetic Analysis Products

Swift Biosciences, a small Ann Arbor start-up company, has been awarded $3 million in venture capital from Houston-based DFJ Mercury to pursue its work in molecular biology reagents.

DFJ Mercury is joined in the Swift funding by several Michigan-based individual investors, who also helped launch Swift Biosciences with seed funding in January 2010. Swift Biosciences is developing molecular biology reagents – substances which allow identification of specific genetic characteristics to help scientists and doctors conduct genetic tests to identify whether patients are susceptible to specific diseases.

As a firm which invests in information technology, advanced materials, and bioscience companies, DFJ Mercury partners with entrepreneurs to build competitive businesses around the world. Their focus is on the midcontinental US, particularly in the states of Texas, Colorado, Illinois, and Michigan.

Swift Biosciences was founded in January 2010 by David Olson, PhD, the former Chief Scientific Officer of Accuri Cytometers. In a statement, Olson said, “This funding will help us accelerate product development and customer testing. DFJ Mercury is an ideal partner for us as we grow from the idea stage into commercial launch. We have been fortunate to have the early support of both local and national investors.”

Dr. Olson further noted that, “We have also benefited from the entrepreneurial community in the area, including our local business accelerator, SPARK, who has helped us recruit an outstanding team from across the country. The abundance of biomedical activity locally makes Ann Arbor a great place to launch a life science start-up.”

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