Clark Enterprises-backed Verax Biomedical Raises over Half of $5 Million Mixed Offering

James Lousararian

Verax Biomedical Inc., which has developed technology to enable rapid blood tests, has raised $2.78 million, or over 55 percent of a mixed offering of $5 million, from 11 investors, according to an SEC filing.

Principals named in the filing by the Worcester, Mass.-based firm are the following executives:

·         CEO James Lousararian;
·         Joe Sanders, senior vice president for Marketing and Business Development;
·         Nancy Hornbaker, vice president for Regulatory Affairs;
·         R. Scott McKenzie, senior vice president of Operations; and
·         Greg Lawrence, vice president for Research and Development.

Also named in the filing were the following directors;

·         Buzz Benson of Minneapolis-based SightLine Partners;
·         Joe Del Guercio of Bethesda, Md.-based Clark Enterprises Inc.;
·         Marc Goldberg of Boston-based Bioventures Investors;
·         James Koziarz of Midwest Venture Partners; and
·         Robert Zieserl of Highland Park, Ill.-based KB Partners.

Lousararian, who began consulting with Verax in the fall of 2005, was named the CEO in February 2006. Prior to joining Verax, he was a consultant for Medtronic Vascular, following that company’s acquisition of Angiolink Corp. in November 2004. Lousararian previously co-founded and led a life sciences startup, AngioLink.

Verax Biomedical enables rapid tests to detect bacterial contaminants in blood components, tissues for transplantation and cellular therapies.

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