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Advanced Animal Diagnostics (AAD) reported in March that it closed an $11 million Series B round of equity financing. The investment represents the largest single investment in research and development to diagnose mastitis, the costliest disease for dairy producers worldwide, according to the Durham, N.C.-based company.
The financing was led by Intersouth Partners and included Novartis Venture Funds as well as other private investors.
AAD’s first on-farm product will focus on improving milk production and quality by controlling mastitis. Future products will monitor disease states, reproductive, nutritional and overall health status of production animals, according to the company.
“With this investment, AAD will be able to bring to market a new generation of diagnostics technologies that will revolutionize the way farmers approach animal health, allowing them to detect and diagnose diseases in their animals more quickly and efficiently than ever before,” said Joy Parr Drach, president and CEO of AAD.
AAD it expects the financing to support hiring for key positions, production and manufacturing and on-farm economic trials of its first product line. The firm is seeking cooperators for those on-farm trials.
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