Longmont DNA company raises $31M

LONGMONT — ANDE Corp., the Longmont-based DNA testing company, Monday said it raised just over $31 million in a private round.

According to a Form D filed with the U.S. Securities and Exchange Commission, ANDE began the equity fundraising round on May 31 and closed with $31,007,256 from 12 investors.

Formerly known as NetBio Inc., ANDE develops “rapid DNA” machines that can match DNA samples from police arrestees to the FBI’s National DNA Index System in under two hours to determine if they are wanted for crimes in other jurisdictions.

ANDE spokeswoman Annette Mattern said the company raised the funds to fuel an expansion into the local law enforcement market after it got approval to check samples against the FBI’s National DNA Index System last year.

“This opened up a whole new door of expansion to work directly with police departments and coroners to help identify victims of crimes and events of mass destruction,” she said, referring to events such as last year’s deadly wildfires in California.

ANDE’s products are used by state police agencies in Kentucky, Louisiana and by the U.S. Army’s Defense Forensic Science Center.

ANDE previously raised just over $47.6 million in a different fundraising round last year.

 

LONGMONT — ANDE Corp., the Longmont-based DNA testing company, Monday said it raised just over $31 million in a private round.

According to a Form D filed with the U.S. Securities and Exchange Commission, ANDE began the equity fundraising round on May 31 and closed with $31,007,256 from 12 investors.

Formerly known as NetBio Inc., ANDE develops “rapid DNA” machines that can match DNA samples from police arrestees to the FBI’s National DNA Index System in under two hours to determine if they are wanted for crimes in other jurisdictions.

ANDE spokeswoman Annette Mattern said the company raised the funds to fuel an expansion into the local law enforcement market after it got approval to check samples against the FBI’s National DNA Index System last year.

“This opened up a whole new door of expansion to work directly with police departments and coroners to help identify victims of crimes and events of mass destruction,” she said, referring to events such as last year’s deadly wildfires in California.

ANDE’s products are used by state police agencies in Kentucky, Louisiana and by the U.S. Army’s Defense Forensic Science Center.

ANDE previously raised just over $47.6 million in a different fundraising round last year.