“Bringing AAD to Kansas positions us as an innovative state that is bringing new technologies to the dairy market" - Tony Simpson
The Kansas Bioscience Authority was pleased to join Advanced Animal Diagnostics (AAD) in announcing that the company closed a $15 million Series C round of equity financing in December 2014. The financing was co-led by the Kansas Bioscience Authority ($2 million) and Cultivian Sandbox and included Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH), Middleland Capital, and existing investors Intersouth Partners, Novartis Venture Funds and private individuals. The investment will allow AAD to accelerate the commercialization of its current product offering, QScout® MLD (milk leukocyte differential) test, while also expanding the company’s product line.
AAD develops on-farm diagnostic technologies that change the way livestock producers manage animal health and costly diseases. The company launched its first commercial products, QScout MLD test and QScout Farm Lab, in 2013 to detect subclinical mastitis in dairy cows. Large-scale trials on commercial dairies demonstrated that the technology significantly improves producers’ financial returns by preventing milk and reproductive losses, safeguarding animal health through earlier detection and promoting more judicious use of antibiotics.
The company expects to advance the development of additional livestock tests for dairy and beef markets, invest in production and manufacturing, and expand commercial efforts for new and existing customers with this financing. AAD plans to conduct product development research with the Kansas State Veterinary Diagnostics Lab in Manhattan, is working with a Lenexa manufacturer to make components of the Qscout Lab, and plans to establish a sales office in Western Kansas to support its current dairy product and future feedlot products.
“Bringing AAD to Kansas and the KC Animal Health Corridor positions us as a growing dairy state, as well as an innovative state that is bringing new technologies to the dairy market,” said Tony Simpson, managing director, Kansas Bioscience Authority.