# Tangen Biosciences

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tangen-biosciences

- Industry: Medical Devices & Equipment
- Headquarters: Branford, US
- Website: www.tangenbioscience.com
- Total disclosed funding: $21M
- Latest round: Series B (Aug 6, 2020)
- Investors on record: 5

## About

Tangen Biosciences, Inc. is a biotechnology company focused on developing innovative diagnostic solutions aimed at transforming healthcare through precision testing and efficient workflow integration.Tangen Biosciences, Inc. specializes in developing advanced molecular diagnostic tools. Founded in 2013 and headquartered in Branford, US, the company has successfully completed three funding rounds, with the most recent being a Series B round of USD 12.2 mn raised on August 6, 2020. The firm has received investment from Connecticut Innovations, Leading Edge Ventures, Parvizi Surgical Innovation, LLC, and VC23. John Davidson serves as the founder and has a history of entrepreneurial ventures in the biotech sector, while Rick Birkmeyer is the current CEO.The company offers a variety of innovative diagnostic products designed to enhance operational efficiency in healthcare. Their core offerings include advanced molecular testing solutions that facilitate real-time data analysis. These products cater primarily to healthcare institutions, allowing them to streamline diagnostic workflows and improve patient outcomes. Tangen's customer base includes hospitals and diagnostic labs across North America, Europe, and select regions in Asia, addressing diverse healthcare needs with tailored solutions.Tangen Biosciences, Inc. generates revenue through a combination of subscription-based services for its diagnostic solutions and direct partnerships with healthcare providers. Revenue is primarily derived from annual subscriptions, which include ongoing updates and customer support. Additionally, consulting services are offered to assist clients in integrating and optimizing the diagnostic tools into their operations. Pricing plans are tiered according to client size and specific feature sets, ensuring both small practices and large healthcare institutions can access suitable solutions.Looking ahead, Tangen Biosciences, Inc. plans to expand its product line by introducing new diagnostic tools aimed at enhancing precision medicine capabilities, with expected releases scheduled for 2022. The company is also targeting expansion into new geographic markets, specifically regions in Asia and Europe, by 2023. The recent Series B funding of USD 12.2 mn will be instrumental in supporting product development and market entry initiatives, as outlined in their strategic growth plan.

## Funding rounds

- Series B, Aug 6, 2020, $12M — Connecticut Innovations, Leading Edge Ventures, VC23, Parvizi Surgical Innovation, LLC
- Series A, Jun 20, 2019, $9M — Connecticut Innovations, Axiom, Leading Edge Ventures, VC23

## Investors

- Connecticut Innovations (https://capitalatlas.ai/funds/connecticut-innovations) — Series A, Series B
- Axiom — Series A
- Leading Edge Ventures (https://capitalatlas.ai/funds/leading-edge-ventures) — Series A, Series B
- VC23 (https://capitalatlas.ai/funds/vc23) — Series A, Series B
- Parvizi Surgical Innovation, LLC — Series B