LAB7 SYSTEMS SECURES $3.0M FINANCING TO FUEL PLATFORM GROWTH AND COMMERCIAL EXPANSION Boosts scalable software platform for data-intensive life science applications
AUSTIN, TX – October 26, 2016 – Lab7 Systems, Inc., a leader in workflow management for data-intensive life science applications, announced today the closing of $3.0 million of its planned $5.0 million Series A financing. The company’s Enterprise Science Platform (ESP) enables life science laboratories to manage complex sample-to-answer workflows in data-intensive environments. The company also curates BioBuilds, a hub for the distribution of Open Source bioinformatics tools. Lab7 seeks to accelerate life science innovation by integrating next-generation, computationally intense tools into research practice, while maintaining data provenance and supporting compliance with current regulatory regimes.
“We will utilize this financing to enhance our core software platform and build out our team of talented software developers and bioinformaticians,” said Christopher Mueller, Ph.D., President and Chief Technology Officer of Lab7 Systems. “We will also continue our efforts to attract top technical staff and broaden our commercial presence.”
“New life science research technologies are driving increases in the volume, diversity and depth of life sciences data,” said Jim Graham, advisor to the investment group and new member of the Lab7 board. “Customers need solutions like Lab7’s to convert data into applied insights across diverse fields from precision medicine to industrial biotechnology. Chris and his team have built a solid foundation and we are excited to partner with them on this opportunity.”
About Lab7 Systems, Inc.:
Lab7 Systems is a software developer that has a vision to reduce the level of hands-on data management by bioinformaticians, scientists, and IT teams who are struggling with the massive amounts of data that are being generated by new technologies. Lab7 understands there is a critical need for a platform that integrates the disparate and often disjointed scientific software toolkit that is being used, thereby freeing up the valuable human resources who are currently tasked with doing this.