Jones Day advised GRA Venture Fund, LLC on the deal.
Lucid Scientific, the biotechnology tools company that develops and manufactures RESIPHER, announced the completion of a $3 million Series Seed financing led by Dynamk Capital. Additional participants include Lucid’s original investor base and the Georgia Research Alliance’s Venture Fund (GRA Venture Fund) bringing Lucid’s total funding to date to approximately $4.5 million. Proceeds from this round will help the company aggressively expand production, sales and marketing, as well as broaden product development. Dynamk Capital Managing Partner Dr. Gustavo Mahler will join Lucid’s Board of Directors.
Lucid Scientific (lucidsci.com) is a biotechnology tools company working to accelerate drug discovery and basic biological research by providing systems for real-time cellular analysis. Originally developed at MIT, Lucid’s patented RESIPHER system monitors cellular metabolism via non-invasive optical sensors, streaming information to researchers in real-time via a collaborative web platform.
Dynamk Capital is a growth equity and venture capital firm focused on life sciences industrials. Dynamk’s investment strategy is centered on identifying companies developing disruptive technologies, tools, and services that enable the full biopharma continuum across discovery, development, and manufacturing of biotherapeutics, including cell & gene therapies and vaccines.
GRA Venture Fund is a public-private venture capital fund investing in research-driven, Georgia-based startup companies.
The Jones Day team was led by William J. Zawrotny (Picture).
Involved fees earner: William Zawrotny – Jones Day;
Law Firms: Jones Day;
Clients: GRA Venture Fund, LLC;