ANN ARBOR — IROA Technologies LLC (formerly known as NextGen Metabolomics Inc.) Wednesday announced the closing of a Series A equity financing round to continue the company’s strong commercial and operational growth.
An affiliate of Bloomfield Hills-based O2 Investment Partners LLC led the round, and Ann Arbor Spark and Invest Detroit also participated.
Proceeds will be used to fund, among other things, the development of IROA cell culture media for metabolic profiling, according to CEO Felice de Jong. IROA, pronounced “uh-row-ah,” is an acronym for Isotopic Ratio Outlier Analysis, which uses isotopes of carbon to create chemical signatures in biological compounds that are useful in identifying and analyzing them. For a presentation on how IROA works, visit this link.
The firm is currently in discussions with potential marketing partners and expects its products to be widely available within one year.
“We are looking forward to providing tools to researchers, including cell culture media and software, so that important small biochemical biomarkers can be identified to understand how organisms respond to stressors such as drugs and disease. Tools such as these are critical for drug development and diagnostics,” de Jong said.
IROA Technologies is a Delaware LLC which develops IROA media, standards and software. It is a subsidiary of NextGen Metabolomics Inc.
Founded in Ann Arbor, IROA Technologies exclusively owns the entire IROA patent portfolio, covering methods and use as well as composition of matter.