Innovative Biosensors, Inc. Raises $3.5 Million Funding

Innovative Biosensors, Inc (IBI), a company developing rapid, ultra-sensitive tests to detect pathogens, have raised $3.5 Million in Series A financing led by Harbert Venture Partners, LLC. Other investors include New Markets Growth Fund and the Maryland Venture Fund.

Founded in mid 2003, IBI licensed the CANARY ™ technology from MIT in August 2003. The technology enables the detection of pathogens with an unprecedented combination of speed and sensitivity. The company recently launched its E. coli O157:H7 Detection Kit for food processors and plans to introduce more tests in the food testing and human clinical diagnostics markets.