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1.5 million USD in new funding & new chairman of the board to iSentio AS

16-Dec-2010

iSentio AS has raised 1.5 million USD in new funding from new and existing investors. The funding will be used to grow sales, marketing and support, as well as enable the company to accelerate the development of new application areas.

iSentio has had a successful market introduction of its web-based sequence analysis software for identification of multiple bacteria after direct sequencing of clinical patient samples. The RipSeq(R) software is now in use at hospitals both in Europe and in the USA. To capitalize on the momentum that has been created, the company decided to seek additional funding. The main new investor is Sarsia Seed AS, a Norwegian seed capital fund which invests in early phase technology companies within energy / cleantech and Life Science sectors.

“This financing will allow us to strengthen our market presence and address new markets. It will also ensure that we have a strong support organization to care for our customer base. Sarsia Seed’s experience with start-up companies in Life Science will contribute with network and competence to strengthen us even further” says Bjarte Karlsen, CEO of iSentio. Sarsia Seed will take two positions on the board.

The new Chairman of the board is Siri Fürst. She has been instrumental in the deal with Sarsia Seed. Ms Fürst has a degree in economics from the Norwegian School of Economics and Business Administration. With a background from finance, investor relations and strategic business develop­ment, Fürst brings with her a broad experience from the Life Science industry. She has held various managerial positions at Hafslund, Hafslund Nycomed and Nycomed Pharma and served as CEO at DiaGenic ASA. In 2005 she joined Considium Consulting Group AS.

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