Aviva Biosciences nets $11.8M second round

Sept. 25, 2002 — Aviva Biosciences Corp., a San Diego biochip company focused on cellular screening and analysis, announced second round financing of $11.8 million. The round was led by existing investor China Development Industrial Bank, according to Eric Lachenmeier, director of business development. New investors include Axon Instruments Inc. and Pac-Link Management Corp. Other unnamed previous and new investors also participated.

The 18-person company, founded in 1999, previously received $5 million in first round financing. In April of this year, it received $3 million in bridge financing, which was subsequently included in the $11.8 million second round.

Lachenmeier said the company is currently ramping up production capabilities to deliver cartridges for Axon’s PatchXpress 7000A line of drug screening systems. He said the company will take at least a year before it seeks more funding.

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