NextBio (www.nextbio.com), a Cupertino-based company that has developed the first search engine for life sciences data, today announced the closing of a $7 million "Series B" financing led by Newbury Ventures (www.newburyven.com), with participation by existing investors.The new funds will be used to further expand NextBio's industry-leading content, scale its technology infrastructure to handle millions of queries, and build its community collaboration and data sharing features. Bruce Bauer, Senior Managing Director of Newbury Ventures, will join NextBio's Board of Directors.
"We believe there is a tremendous market opportunity for a search engine that fundamentally changes the way life science researchers find and share information," stated Bruce Bauer of Newbury Ventures. "NextBio's outstanding customer traction and feedback makes this an especially exciting investment for us. We believe that NextBio has the seasoned team, technology, and long-term vision to transform an entire industry."
"We are excited to bring on board an experienced investor that shares our passion for revolutionizing life sciences research and drug development," said Saeid Akhtari, NextBio's co-founder and CEO. "We will utilize this significant capital infusion to accelerate our innovation, expand our content, and rapidly globalize adoption of the NextBio search and collaboration engine."
NextBio is a life sciences data search engine and community data sharing platform that introduces the web 2.0 paradigm of instant access, user-generated content and collaboration to life scientists and clinicians worldwide. Launched just eight months ago, NextBio's search engine has rapidly gained traction with users in over 60 academic institutes and pharmaceutical/ biotechnology companies that have endorsed its visionary approach to data search and sharing.
About NextBio
NextBio is the world's first data search and collaboration engine for life scientists and clinicians. Founded by a team of visionary innovators, NextBio addresses a fundamental need within R&D to effectively leverage vast quantities of internal and public life sciences information by connecting millions of researchers and clinicians through its search and share engine. NextBio's value in improving research efficiency and effectiveness has already been validated at the world's leading research organizations. For more information, visit www.nextbio.com.
About Newbury
Newbury Ventures is an international venture capital group focused on investing in and growing entrepreneurial companies in the technology, communications, information technology, and health care industries. Founded in 1992, Newbury is known for its insight, integrity and global approach to the business of venture capital, and has successfully managed investments of over $500 million in North America and Europe. Newbury's partners have financed well over 100 successful emerging growth technology companies, including Okena, Netro, Precise Software, Corvis/Algety, nCipher, and ACC. Newbury has offices in Redwood Shores, California; Ottawa, Canada; and Paris, France. www.newburyven.com
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