Monday, December 8, 2014

Durham's Advanced Animal Diagnostics Closes $15 Million Series C

Durham-based Advanced Animal Diagnostics (AAD) has closed a $15 million Series C round of equity financing, which allows the company to accelerate the commercialization of its current product offering, the QScout® MLD (milk leukocyte differential) test, while also expanding their product line.  

AAD develops on-farm diagnostic technologies that have changed the way livestock producers manage animal health and costly diseases. The company launched its first commercial products, QScout MLD test and QScout Farm Lab, in 2013. Large-scale trials on commercial dairies demonstrated that the technology helped producers prevent milk and reproductive losses, safeguarded animal health through earlier detection and promoted more judicious use of antibiotics.  

QScout® Farm Lab
The financing was co-led by Cultivian Sandbox and Kansas Bioscience Authority, and included Laboratory Corporation of America® Holdings (LabCorp®), Middleland Capital, and existing investors Intersouth Partners, Novartis Venture Funds and private individuals.

Read more about the announcement and AAD, here.

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