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Indy life sciences startup lands additional IU funding

(photo courtesy of Amplified Sciences)

INDIANAPOLIS (Inside INdiana Business) — An Indianapolis-based diagnostic startup has landed additional funding from the IU Angel Network. Amplified Sciences, which focuses on better and earlier detection of debilitating diseases such as pancreatic cancer, received a $25,000 investment in June, just two months after closing a $1.1 million seed round.

The seed round included an investment from the IU Philanthropic Venture Fund which, along with the IU Angel Network, is a part of IU Ventures. The university says the dual investment grows the organization’s ability to accelerate startups.

“The platform that Amplified Sciences is developing can save both money and lives as it provides solutions that detect disease earlier and drastically reduce the number of unnecessary medical procedures being done,” said Jason Whitney, associate vice president of IU Ventures and executive director of the IU Angel Network. “Our IU Ventures team is excited to participate with our capital, but it’s also exciting to bring on board IU Angel Network capital that comes with industry experience to help guide the direction of the company.”

Amplified Sciences utilizes technology developed by Dr. Jo Davisson, a professor of medicinal chemistry and molecular pharmacology at Purdue University and graduate of the IU School of Medicine. Davisson co-founded the company with Diana Caldwell, a graduate of the IU Kelley School of Business.

“The IU Angel Network has recruited an impressive group of alumni who are interested in supporting the IU-connected entrepreneurship community, not only through investment dollars but also through their expertise and networks. We are thrilled to have them on board,” Caldwell said. “This second investment by IU Angels is a testament to the power of collaboration across the IU network and demonstrates the great work IU Ventures is doing to develop a strong startup ecosystem.”

The company recently won the Judge’s Choice Award and the People’s Choice Award at the virtual MedCity INVEST pitch competition.