ArtusLabs Closes $2.6 Million in Series A Funding.Company's Innovative Software Solution Will Help Significantly Reduce Research and Development Costs for Pharmaceutical or Biotech Organizations DURHAM, N.C. -- ArtusLabs, a leading provider of life science software tools and data management solutions, today announced that the company has closed a $2.6 million round of venture financing. The Series A round was led by Hatteras Venture Partners and Southern Capitol Ventures. ArtusLabs was founded by the award-winning management team that built Sythematix, the software solutions company that pioneered the Enterprise Electronic Lab Notebook An electronic lab notebook (also known as Electronic Laboratory Notebook, or ELN) is a software program designed to replace paper laboratory notebooks. Lab notebooks in general are used by scientists and technicians to document research, experiments and procedures performed in a marketplace and was eventually acquired by Symyx Technologies Symyx Technologies NASDAQ: SMMX is a pioneer in the area of combinatorial chemistry applied to heterogeneous catalysis and homogeneous catalysis, polymer formulations, electronic and magnetic materials. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SMMX) in 2005. "We are thrilled to partner with Robin Smith and Brian Ballard to build the next generation research informatics Same as information technology and information systems. The term is more widely used in Europe. company," said Clay B. Thorp, general partner at Hatteras Venture Partners. "They have assembled the same world-class team that built Synthematix. ArtusLabs is demonstrating the ability to generate rapid value by focusing this proven team of people on this tremendous pain-point in research informatics." The company's technology platform, Ensemble for Life Science, has the potential to significantly reduce the research and development time a pharmaceutical and biotech organization spends discovering and developing novel therapeutic compounds. ArtusLabs will use the investment to expand its technology platforms breadth of service, marketing efforts and to fund new product development initiatives. "A competitive marketplace has put intense pressure on life science companies to better streamline costs and increase operating efficiencies," said David Jones David Jones is a common name, particularly in Wales, and there have been several well-known individuals with this name. Variations include Dave Jones and Davy Jones. , a principal at Southern Capitol Ventures. "ArtusLabs has developed software solutions with the latest Web 2.0 technologies that directly address these challenges. The company's innovative technologies and outstanding management team makes it a very attractive addition to our portfolio." "We are all very excited to be working again with this group of investors," said Smith, chief executive officer of ArtusLabs. "There is a growing pain-point in the life science industry when it comes to software solutions. From outdated platforms to obtuse ob·tuse adj. 1. Lacking quickness of perception or intellect. 2. Not sharp or acute; blunt. licensing schemes, ArtusLabs was created to reinvent re·in·vent tr.v. re·in·vent·ed, re·in·vent·ing, re·in·vents 1. To make over completely: "She reinvented Indian cooking to fit a Western kitchen and a Western larder" the way a life science enterprise uses its organizational data assets." The life science industry spends nearly $900 million a year on data management solutions and another $300 million on internal programs. ArtusLabs innovative approach has been very well received by early participants in our development programs as well as early commercial adopters of Ensemble for Life Science. About ArtusLabs ArtusLabs is a technology company which is delivering scientific data management software and services designed to enhance workplace collaboration and accelerate the rate of drug discovery. ArtusLabs was founded by the same proven team that formed Synthematix, the start-up that pioneered the Enterprise Electronic Lab Notebook marketplace. This leadership team has extensive expertise in processing, mining and managing complex scientific data and information generated from research activities. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Ensemble for Life Science, is a unique software solution for organizing data. It blends social networking See social networking site. social networking - social network , personal publication, and refined data mining to both internal and external research communication and management. For more information visit www.artuslabs.com. About Hatteras Venture Partners Hatteras Venture Partners is a venture capital firm based in Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , NC, with a focus on biopharmaceuticals, medical devices, diagnostics, and related opportunities in human medicine. Founded in 2000, the firm consists of an experienced team with a broad and complementary skill set that is particularly relevant to building successful new biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. companies. The Hatteras Venture Partners team brings operational experience, a successful track record, and a proven ability to enhance the value of the companies in which it invests. With three funds, the firm has more than $120 million under management. About Southern Capitol Ventures Southern Capitol Ventures (SCV SCV Santa Clarita Valley (California) SCV Sons of Confederate Veterans SCV Santa Clara Vanguard SCV Singapore Cable Vision SCV Special Category Visa (Australia) SCV StarHub Cable Vision ) is a Raleigh, North Carolina-based venture capital firm dedicated to helping outstanding entrepreneurs build market-leading companies. The firm is focused on providing capital and guidance to early-stage technology companies across the Southeast and Mid-Atlantic. Previous investments have included Art.com, DoublePositive, Batanga, ChannelAdvisor and Synthematix (acquired by Symyx NASDAQ:SMMX). For more information, please visit www.southerncapitolventures.com. |
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