Xenon Arc, a Redmond, WA-based company in stealth mode, has raised $6.9 million in equity financing out of a deal that could be worth as much as $15.5 million, according to a regulatory filing. The founding team includes Chad Steigers, Chris Jardine, Edward Lux, and Adeline Honnas, who previously worked together at Bellevue, WA-based ChemPoint, an e-distributor of specialty chemicals, according to their profiles on LinkedIn. The document doesn’t say who invested in the new company, although it does say six investors participated in the deal. Weston Presidio led the financing, according to research from CB Insights.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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