ArtusLabs, a startup that develops software for use in the pharmaceutical and biotechnology sectors, has landed $2.6 million in new financing.
Hatteras Venture Partners and Southern Capitol Ventures led the Series A round.
ArtusLabs’ management is familiar for Triangle investors because the firm was launched by executives who created Synthematix, another software venture, in the region. Symyx Technologies acquired Synthematix in 2005 for $13 million.
ArtusLabs plans to use the funding for to expand its software offerings as well as marketing efforts. The software is designed to help life-science firms reduce research and development costs. Synthematix developed chemical-reaction and lab-notebook software applications.
Robin Smith, chief executive officer, and Brian Ballard, another executive at Synthematix, lead ArtusLabs’ efforts.
"There is a growing pain-point in the life-science industry when it comes to software solutions,” Smith said in a statement. “From outdated platforms to obtuse licensing schemes, ArtusLabs was created to reinvent the way a life-science enterprise uses its organizational data assets."
ArtusLabs’ lead product, Ensemble for Life Science, is designed to boost research into new therapeutic compounds.
"We are thrilled to partner with Robin Smith and Brian Ballard to build the next generation research informatics company," said Clay Thorp, general partner at Hatteras Venture Partners, in a statement. "They have assembled the same world-class team that built Synthematix. ArtusLabs is demonstrating the ability to generate rapid value by focusing this proven team of people on this tremendous pain-point in research informatics."
Added David Jones, a principal at Southern Capitol Ventures: "A competitive marketplace has put intense pressure on life-science companies to better streamline costs and increase operating efficiencies. ArtusLabs has developed software solutions with the latest Web 2.0 technologies that directly address these challenges. The company’s innovative technologies and outstanding management team makes it a very attractive addition to our portfolio."
Hatteras Venture Partners, which is based in Durham, has more than $120 million under management.
Southern Capitol and Hatteras Venture Partners both invested in Synthematix.
