LIMS developer announces a first close on its promissory note and warrant offering

A first close of $970,000 was initiated by Genologics Life Sciences Software on its fundraising effort started this month. 52% of the $1.9 million non-brokered note and warrant offering was placed with three investors. The company closed five prior private placements. The company is backed by OVP Venture Partners as well as Yaletown Venture Partners. Both are early stage investors cleantech and information technology.

The company developed and markets a laboratory information management system (LIMS) software specifically designed for genomics and mass spec research in regulated and unregulated labs. Its recently introduced Clarity LIMS offers an intuitive role-optimized interface and features that make it a valuable investment for labs that are regulated or CLIA-certified and have NGS technologies.

The company is headquartered in Victoria Canada. Genologics Life Sciences Software elected not to disclose its revenues. The executive team includes Michael Ball (CEO). The board of directors includes Don Listwin, Charles P. Waite, Jr., Steve Hnatiuk, Joe Timlin, Hans Knapp and Tristan Orpin.

Offering recap:
Status: First close
Company: Genologics Life Sciences Software
Industry: Other Technology
Amount offered: $1,878,082
Amount placed: $970,323


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