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Houston Venture Capital Firm Invests $3 Million in Swift Biosciences

TexasBusiness.com reports:  DFJ Mercury of Houston spearheaded a $3 million investment in Swift Biosciences Inc., a Michigan-based life sciences company,

The $3 million Series A financing led by the venture firm DFJ Mercury, was joined by several Michigan-based individual investors who also helped launch the startup with seed funding in January 2010. 

Daniel Watkins of DFJ Mercury will join Swift Biosciences’ board of directors.

"Swift Biosciences' genetic analysis technology has the potential to significantly advance molecular diagnostics and biomedical research," Watkins said in a prepared statement. “The Swift team has been able to achieve excellent technical performance in testing to date.  Working with entrepreneurs to commercialize this type of break-through innovation is a core element of our approach at DFJ Mercury.”

Swift Biosciences is developing molecular biology reagents for research and diagnostic applications. Swift's products will provide customers with powerful new ways to examine disease-related genes.  The company also aims to help users analyze their samples faster, at higher volume, and at a lower price-per-sample.  Swift's products are designed to be compatible with customers' current instrumentation.

“This funding will help us accelerate product development and customer testing," said Swift Biosciences chief executive David Olson in a prepared statement.  “DFJ Mercury is an ideal partner for us as we grow from the idea stage into commercial launch.  We have been fortunate to have the early support of both local and national investors.”

DFJ Mercury is a seed and early-stage venture capital firm. Headquartered in Houston, DFJ Mercury invests in information technology, advanced materials and bioscience. DFJ Mercury seeks to partner with extraordinary entrepreneurs to build globally competitive businesses, focusing on investments in the midcontinent.

Since inception in 2005, DFJ Mercury has been one of the most active start-up and seed-stage investors in the midcontinent, has consistently rated as a top venture capital firm for entrepreneurs by Entrepreneur Magazine and TheFunded.com, and has become a "go-to" venture firm for entrepreneurs at the earliest stages of idea generation, company formation, and market execution.