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Indianapolis-based FAST Diagnostics gets funding from BioCrossroads' seed fund

October 24, 2009

Indianapolis-based FAST Diagnostics has received a second round of funding from BioCrossroads’ Indiana Seed Fund.

The $150,000 will help FAST refine its tool to treat acute kidney injury and to prepare for large, preclinical studies.

Previously, the $6 million BioCrossroads fund invested $380,000 toward initial commercialization efforts.

“The lackluster capital market has proven to be a challenge,” said Joe Muldoon, FAST’s CEO.

BioCrossroads CEO David Johnson said FAST has continued to meet key milestones and has successfully built partnerships with other companies and with colleges, including Rose-Hulman Institute of Technology, Indiana University and Purdue University.

FAST has been buoyed by additional funding, including $200,000 from the Purdue Research Foundation and a $1.1 million grant from the National Institutes of Health.

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