West Lafayette-based Amplified Sciences says it has exceeded its seed round goal, raising close to $1 million. The diagnostic startup focuses on detecting and pre-empting the risks of debilitating diseases.
The company, based at the Purdue Research Park, says its technology is currently in the prototype stage and it will use the funding to support commercialization. Amplified Sciences says its lead diagnostic test is for pancreatic cancer, though other serious diseases are also priorities.
Several Indiana investors helped provide funds for the startup’s seed round, including Elevate Ventures, Gravity Ventures, IU Philanthropic Venture Fund, and Purdue Ventures. The startup says it also received funding from investors outside of Indiana including Houston Angel Network, St. Louis Arch Angels, and Golden Seeds, among others.
“Amplified Sciences has the technology and team in place to save millions of lives and revolutionize the global early detection healthcare market,” said Jacob Schpok, executive director of university initiatives and entrepreneur-in-residence for Elevate Ventures.
Amplified Sciences was founded in 2016 by co-founder and inventor Dr. Jo Davisson, a professor at Purdue’s College of Pharmacy, alongside the startup’s President and Chief Executive Officer, Diana Caldwell.
The team says the technology platform is capable of amplifying hard-to-find biomarkers, assisting in the detection of disease.
“The funds raised in this round will fuel our technical and clinical validation efforts to deliver a commercial ready diagnostic test that doctors can begin using with their patients,” Caldwell stated. “During this trying time, the demand for highly accurate, fast and accessible diagnostics is larger than ever.”
Amplified Sciences graduated from Elevate Origins in 2018, a pre-accelerator for Indiana startups, and received Elevate Purdue Foundry Black and Gold Awards in 2016 and 2017.