Y Combinator-backed Andson Biotech in Atlanta raises $5 Million
Andson was co-founded by CEO Dr. Mason Chilmonczyk and Professor Andrei Fedorov. The startup’s flagship product, DynaChipTM, was invented by Chilmonczyk during his Ph.D. work at Georgia Tech.
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Atlanta-based Andson Biotech, a Y Combinator-backed startup that spun out of Georgia Tech, has a fresh new round of funding to improve how medical advancements come to market.Andson is specifically looking to transform how the industry uses mass spectrometers...a tool that is important for developing antibody therapies, mRNA based therapies, and gene therapies.
“Mass spectrometers (MS) are essential for characterizing these complex, life-changing biologics because they provide precise, detailed molecular information that other techniques often can't. MS is a powerful analytical tool that helps ensure biologics are safe, effective, and consistent, which is critical for therapies that can profoundly impact human health,” the Andson Biotech team told Hypepotamus. “Mass spectrometry is widely recognized as the gold standard in characterizing complex biological samples, but the bottleneck is preparing the sample before analyzing---this is often frustratingly complex, inefficient, and tedious. Advanced analytical tools are needed to power new biotherapeutic discoveries for previously untreatable diseases like cancer, genetic disorders, and autoimmune conditions.”
The team recently secured $5 million in venture capital, from a lead investor in the biotech industry. The deal was recognized by Georgia Life Sciences during their annual Golden Helix Awards.
On top of the injection of outside capital, Andson was recently awarded a NIH SBIR phase 1 grant.
Andson is targeting three main customer segments: Large Biopharma and Biotechs, CDMOs (contract development and manufacturing organizations) working with large pharmaceutical companies, and academic investigators studying protein and developing biotherapeutics.
Atlanta’s Biotech Scene
Andson was co-founded by CEO Dr. Mason Chilmonczyk and Professor Andrei Fedorov. The startup’s flagship product, DynaChipTM, was invented by Chilmonczyk during his Ph.D. work at Georgia Tech.
The team recently moved into its new office location on Atlanta’s Westside, but initially worked out of Georgia State University’s incubator space in downtown Atlanta.
The team currently has eleven employees, eight of whom are based in Atlanta.
“For a startup, it has been great to be in Atlanta as we have great access to extremely talented engineers and scientists because of the proximity to the local universities. Additionally, because of Atlanta being a commercial hub we have access to industry veterans to drive our commercial operations. Platforms like the ones provided by Georgia Research Alliance have been great for our visibility to our organization and helped with publicity and fundraising,” Andson’s team added.
