ANDSON BIOTECH RAISES $3.6M SEED ROUND

Contact: info@andsonbiotech.com

ATLANTA, April 30, 2024 – Andson Biotech, a biotools company developing streamlined sample prep and data analytics solutions for mass spectrometry workflows, has successfully closed a $3.6 million round in equity financing. This capital will support hiring talent to accelerate the market introduction of its inline mass spec sample prep solution, DynaCHIP. This patented technology seamlessly integrates into existing mass spec workflows, significantly reducing sample prep times. In addition, Andson will deploy funds to develop DynaMARK, a novel analytics tool that supports emerging cell and gene therapy applications.

"This financing round signifies a significant milestone for Andson Biotech, demonstrating our commitment to making mass spectrometry more productive for current and next-gen biotherapeutics,”says CEO and Co-Founder, Mason Chilmonczyk. “We are grateful for the support of investors and advisors who have built successful biotech companies in the past as we embark on this next phase of growth."

The round was led by Glenn H. Epstein, an investor with a successful track record in funding and advising multiple companies from early-stage formation to robust sales growth from products and services. He will serve on Andson’s board of directors.

"Andson has made significant technical progress since its inception at Georgia Tech in early 2022,” says Tom O’Brien, Executive Chairman of the board at Andson Biotech. “Having collaborated closely with the Andson team for the past year, I am confident in their capabilities and vision. More importantly, I am optimistic about the impact Andson’s products will have in the biotools market."

‍About Andson Biotech

‍Headquartered in Atlanta, GA, Andson Biotech specializes in providing cutting-edge solutions for mass spectrometry, the gold standard for chemical analysis. At the forefront of its offerings is the DynaCHIP, a hardware system designed to enhance mass spec workflows, delivering productivity gains of up to 100x.

Andson Biotech's initial technology was licensed from Georgia Tech.  The Company received early financial support from the Georgia Research Alliance (GRA) and Biolocity. Subsequent support from entities like Y Combinator (Winter, 2022), the Merck Digital Sciences Studio (Inaugural Cohort ‘23), and BioTools Innovator (2023 Finalist) have further propelled the company's growth, bringing its total funding to over $5 million since January 2022.