Dash Bio Raises $30M Series A to Speed Drug Testing

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Dash Bio has raised $30 million in a Series A led by Oak HC/FT, with existing backers Freestyle Capital and Swift Ventures taking part. The round brings the total the company has raised to $47.5 million.

The biotech company is based in Boston, Massachusetts, and works on bioanalysis, the sample testing that sits behind preclinical and clinical drug development. Turnaround on that testing has long been one of the quieter sources of delay in getting a drug through development, and Dash Bio is trying to compress it.

Its approach pairs robotics with a proprietary digital laboratory operating system, so the physical handling and the data layer are built to work together rather than bolted to each other after the fact.

Commercial traction has come quickly. Dash Bio began commercial operations nine months ago and has since signed contracts with more than 30 clients, four of which are among the top 15 pharmaceutical companies globally.

The founding team came out of the industry it now sells into. Dave Johnson, previously an executive at Moderna, is chief executive. Ander Tallett is chief operating officer and Ely Porter is chief scientific officer.