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 01 29 08 | INDIANAPOLIS Indianapolis-Based
Cancer Researchers Close on $6.25 Million of CS-Keys, Inc., an Indianapolis-based company creating cancer-specific biomarkers using advanced proteomics for diagnostic and therapeutic applications, announced that it has closed on $6.25 million of Series A financing. Triathlon Medical Ventures, which seed funded the company, led the financing round. The funding marks two notable mentions: it is the first investment by the newly formed Clarian Health Ventures, and two venture capital firms with their first investments in Indiana also joined the financing – Prolog Ventures of St. Louis, and Evanston, Illinois-based Ceres Venture Fund. Indianapolis-based Spring Mill Venture Partners also participated in this round of funding. “CS-Keys’ novel approach to cancer research fills a critical need in the market, and we’re excited to make our first investment in a company that has such potential to impact the treatment of cancer,” said Matthew Neff, president and CEO, Clarian Health Ventures. “Our goal is to foster the life sciences in Indiana, and CS-Keys is not only contributing to better health, but also underscoring Indiana’s great assets in the life sciences community.” “Closing on this funding is a major milestone for CS-Keys. It will enable the company to launch its first product and to continue research and development of future diagnostic tests and therapeutic treatments,” said Dan Broderick, a partner at Prolog Ventures and a board member of CS-Keys. “The company is well positioned to excel in the growing cancer diagnostics market.” The funding will be used to support the launch of the company’s first product, an immunohistochemistry stain used to assist pathologists in the detection of cancer-associated Proliferating Cell Nuclear Antigen in biopsies from a wide variety of tissues including breast, colorectal, prostate, and ovarian. “This funding will enable us to take our research to the next level as we complete the development and clinical trial for a second product, a diagnostic blood test to monitor a cancer patient’s remission status,” said Claire Deselle, CS-Keys president and CEO. In addition, CS-Keys researchers are working on validating their therapeutic target for cancer. CS-Keys was one of the first recipients of funding from the Indiana Seed Fund, managed by BioCrossroads, Indiana’s initiative to grow the life sciences. “In just a few years, CS-Keys has gone from research at the Indiana University School of Medicine to a start-up enterprise to now closing on a significant amount of funding for its continued growth. It was an initial recipient of our seed funding, so it’s rewarding to see it achieve this landmark,” said David Johnson, president and CEO, BioCrossroads, and board member of CS-Keys. “I’m thrilled that Clarian Health Ventures has chosen CS-Keys as its first investment; it is a great milestone for both organizations. In addition, the two new venture firms from outside the state joining in their financing validate Indiana’s growth and reputation as a life sciences center.” About CS-Keys Founded by Indiana University School of Medicine researchers, CS-Keys is developing a new series of diagnostics to detect the occurrence or re-occurrence of cancer, leading to more effective individualized treatment strategies for primary and metastatic disease. To learn more about CS-Keys, please visitwww.cs-keys.com. About Ceres Venture Fund Ceres Venture Fund is a Chicago-based venture capital
fund dedicated to funding high growth companies located in the Midwest
in their early stages of growth. As growth-oriented investors, the
fund seeks to partner with entrepreneurs of proven ability and provide
them with the resources needed to achieve extraordinary success. About Clarian Health Ventures A return-driven venture capital fund, Clarian Health
Ventures is guided by the strategic objectives and mission of Clarian
Health, Indiana's largest health care system, including fostering
the life sciences in Indiana. About Prolog Ventures Prolog is a venture capital firm specializing in
life science investing. Since its launch in 2001,
Prolog has financed more than 20 early-stage
companies. The firm is managed by a team of professionals with extensive
experience as both investors and entrepreneurs. Prolog focuses on
traditional healthcare opportunities as well as emerging areas – such
as nutrition, wellness, plant science, and enabling platforms – in
which it has built one of the largest portfolios in the country. About Spring Mill Venture Partners Spring Mill Venture Partners is an early-stage
venture capital firm focused on investing in high-growth information
technology and life sciences companies located in Indiana and the
surrounding Midwest region. About Triathlon Medical Ventures Triathlon Medical Ventures is a Midwest-based venture
capital firm that invests exclusively in the life sciences. It provides
equity capital to early- and expansion-stage companies with proprietary
biomedical technology platforms or products addressing significant
human healthcare needs. Triathlon is geographically focused on early-stage
opportunities in the Midwest but will also invest in later-stage
companies nationwide. With offices in Cincinnati, Indianapolis, Louisville,
and St. Louis, the partners are industry veterans with extensive
experience as both operational managers and venture capitalists.
T O P I N T H E N E W S S E L E C T E D R E L E A S E S H O M E |
