Sanguine BioSciences Inc., a company that collects blood for use in medical research, has closed its seed funding round with $10 million.
The Valencia company works through social media and non-profit organizations to recruit people to give blood samples for use in medical and pharmaceutical research projects. The company also collects self-reported information from the donors for use in the research, and it reports back to donors on how their blood was used to advance science.
The funding round was led by Invent Ventures, an investment firm in Santa Monica, and Heliant Ventures, a Hong Kong capital firm.
The money will fund an upgrade in the company’s equipment and gathering systems so it can collect, process and store 1,000 samples each month. Geographically, the collection will concentrate on the West Coast.
“We are looking forward to scaling up and providing researchers with the samples they need to perform their investigations, while also providing patients with the knowledge of how their samples have impacted personalized medicine research,” Brian Neman, chief executive at Sanguine, said in a statement.