Lucid Scientific Secures $7 Million Series A Financing Led by IAG Capital Partners

Maker of continuous real-time metabolic analysis systems experiences growing demand. Will build capacity for new product offerings, manufacturing, and global sales and marketing.

September 26, 2023 05:42 PM Eastern Daylight Time

ATLANTA–( BUSINESS WIRE)–Lucid Scientific, a life science instruments company that manufactures Resipher, announced the completion of a $7 million Series A financing led by IAG Capital Partners. Additional participants include Lucid’s original investor base, the Georgia Research Alliance’s Venture Fund, and Dynamk Capital, bringing Lucid’s total funding to date to approximately $13 million. Proceeds from this round will help the company aggressively expand production, sales and marketing, as well as broaden new product advancements. IAG Venture Partner Dr. Ehsan Jabbarzadeh will join Lucid’s Board of Directors.

Lucid Scientific logo

“We are thrilled to partner with Lucid Scientific to market a ground-breaking technology for real-time analysis of cell metabolomics,” said Dennis Sacha of IAG Capital Partners. “The platform will provide scientists with a powerful tool to understand dynamic biological responses and the discovery of cures for most difficult diseases.”

The financing accelerates exceptional momentum for Lucid, and for their upcoming launch of new Resipher hardware and consumable products this fall. Resipher provides researchers with valuable insights into cellular metabolism that are of central importance for a wide range of therapeutic applications and drug safety considerations. Resipher converts standard cell culture plates into smart readers that detect and report metabolic changes in real-time. This data significantly accelerates the cell culture research cycle by bridging the gap between performing experiments and gaining actionable insight.

“This financing enables Lucid to continue improving the Resipher line of products for researchers and drug discovery teams whose work directly impacts human health,” said Dr. Walker Inman, CEO of Lucid Scientific. “We are excited to have Ehsan and IAG join our team, as they provide a wealth of experience and help position Lucid to achieve our goals.”

Lucid Scientific  is a life science instruments company working to accelerate drug discovery and fundamental biological research by providing systems for real-time cellular analysis. Headquartered in Atlanta, GA at the Advanced Technology Development Center (ATDC), Lucid is supported by public and private sources including IAG Capital Partners, Dynamk Capital and the GRA Venture Fund.  lucidsci.com

IAG Capital Partners  is based in Charleston, South Carolina and partners with innovative leaders to build companies that will change the world.  iagcapitalpartners.com

Dynamk Capital  is a growth equity and venture capital firm focused on life sciences industrials. Dynamk’s investment strategy is centered on identifying companies developing disruptive technologies, tools, and services that enable the full biopharma continuum across discovery, development, and manufacturing of biotherapeutics, including cell & gene therapies and vaccines.  dynamk.vc

GRA Venture Fund  is a public-private venture capital fund investing in research-driven, Georgia-based startup companies. The Fund makes seed, early-stage and mid-stage investments in companies. Fund investors are the State of Georgia, private individuals, corporations and foundations.  graventurefund.org

Contacts

info@lucidsci.com
+1-617-237-0665

June 18, 2026
June 18, 2026 - Athens Bioscience, Inc., a US manufacturer of native human and animal proteins, today announced a change in leadership. Benjamin Newland, the company’s Executive Chairman, has become Chairman and Chief Executive Officer, effective today. John Mitchell, who has led the company as CEO for five years, will continue as special advisor. Karson Durie rejoins Athens as Chief Operating Officer, effective June 8, 2026. Dee Athwal, a biotechnology executive and antibody engineer, will join the board of directors on July 1, 2026. Newland becomes chief executive four decades after his father, Dr. Hillary Newland, co-founded the company that became Athens Bioscience in 1986 at the University of Georgia. Newland has served as Chairman and majority shareholder since March 2024 and is relocating from Spain to Athens, Georgia, to take the role. “For forty years Athens has made native proteins in-house, lot after lot — proteins that researchers and diagnostics labs build their own work on top of,” said Benjamin Newland, Chairman and CEO of Athens Bioscience. “What we want to do now is deepen relationships with our core customers and broaden our distribution.We also intend to develop our custom and contract manufacturing line of business. John was instrumental in building internal systems and processes and now we are ready to scale.” Mitchell led Athens for five years. As special advisor, he will support the transition and continue to advise on customer and commercial matters. “Athens made great proteins long before I showed up. What it needed was a tighter operation behind them – steadier planning, cleaner production, shipments you can count on,” said John Mitchell. “That’s built now. The next thing is getting Athens in front of more of the world and I look forward to supporting Benjamin as he moves forward with that.” Durie returns to Athens as Chief Operating Officer, having most recently served as Director of Product Development at Danimer Scientific. She previously served as Lab Director at Athens. She holds a PhD in polymer chemistry and an MBA in finance from the University of Georgia and is a Project Management Professional (PMP) and a registered patent agent. “I know this facility and the people in it,” said Karson Durie, Chief Operating Officer of Athens Bioscience. “Returning as COO is a chance to scale what already works — consistent lots, tight quality control, reliable supply — as demand grows across diagnostics and cell culture.” Athwal will join the board on July 1. He trained as a biophysicist and established the antibody engineering group at Celltech, where he is named as an inventor on foundational antibody-engineering patents. He has founded or co-founded five biotechnology companies and held C-level roles across the UK, US, Europe, Asia, and Latin America, including building Complement Therapeutics as CEO and leading the biologics strategy at Kelix Bio through its acquisition by Mubadala. His work in antibodies, immune proteins, and complement biology maps directly to Athens’s largest product lines. About Athens Bioscience  Athens Bioscience, Inc. (formerly Athens Research & Technology) manufactures native human and animal proteins for research, cell culture media, and in vitro diagnostics. Founded in 1985 at the University of Georgia, the company purifies more than 170 native proteins in-house at its ISO 9001:2015-certified facility in Athens, Georgia. Athens proteins have been cited in more than 2,500 peer-reviewed publications and reach customers across the US, Europe, Asia, the Middle East, and Africa. Athens does not resell or broker. It manufactures. Media Contact Christie DeMasi Athens Bioscience, Inc. christie@athensbioscience.com +1.706.546.0207
June 17, 2026
As part of the Georgia Life Sciences Summit (August 25–26), applications are now open for the Startup Showcase , sponsored by Johnson & Johnson , highlighting early-stage innovation across MedTech and Therapeutics . The Showcase will feature some of Georgia’s most innovative life science startups, giving emerging companies the opportunity to present groundbreaking technologies, products, and solutions to a distinguished audience of industry leaders, investors, researchers, and partners. Selected startups will present during the August 26 luncheon program and participate in a live investor Q&A session with John Gutierrez (Ascenta Capital), Emma Heckenberg, Ph.D. (Solas BioVentures), Patrick Jordan (NovaQuest Capital Management), and Emily Dinu (Numinous Capital) Members of the Johnson & Johnson external innovation team will also be onsite for the program and select companies will be scheduled for a 1:1 meeting to discuss strategic alignment and potential collaboration opportunities. If you or companies in your network are building in MedTech or Therapeutics, this is a strong opportunity to gain visibility, receive feedback on commercialization and growth strategy, and connect with key stakeholders. All applicants receive a complimentary Summit registration, and one selected company will also be invited to participate in the NewYorkBIO / New York Stock Exchange Life Sciences Showcase on December 10. If this is relevant to your work, it would be a strong opportunity to consider applying. If not, it may be worth sharing with companies in your network who are building in this space.
June 15, 2026
Workforce & Education Impact: Building Georgia's Future  Life Sciences Workforce - One Teacher at a Time June 16, 2026 - As Georgia Life Sciences concludes the 2025-2026 cycle of the Biotech Teacher Training Initiative (BTTI), the results reinforce the critical role educators play in building the state's future life sciences workforce. Since July of 2025, BTTI engaged 98 educators representing 40 schools across 23 school systems, reaching an estimated 5,375 students through hands-on biotechnology instruction, career-connected learning, and industry-relevant classroom experiences. The Georgia Life Sciences Equipment Depot further expanded the program's impact by supporting 238 teachers with access to laboratory equipment and materials that make authentic life sciences learning possible. Georgia Life Sciences is also pleased to report that funding for BTTI was maintained in the Georgia House version of the FY 2027 budget approved earlier this year. The upcoming 2026-2027 program cycle will mark an important evolution for BTTI. Building on feedback from industry partners and workforce trends across the life sciences sector, Georgia Life Sciences will expand the program's scope to better reflect the skills and competencies employers increasingly need. In addition to foundational biotechnology concepts, future programming will be organized around key industry domains, including Quality Assurance and Quality Control (QA/QC), Research & Development (R&D), MedTech, Artificial Intelligence, Automation, and Advanced Manufacturing. This expanded approach will provide educators with greater insight into the breadth of career opportunities available across Georgia's life sciences ecosystem while helping students develop awareness of the technologies and disciplines shaping the industry's future. The impact extends far beyond individual workshops, creating lasting connections between Georgia classrooms and the state's growing life sciences ecosystem while helping build the talent pipeline that will power Georgia's future innovation economy. "Before BTTI, I was hesitant to do biotech labs because they seemed too complex and expensive," shared Josephine Jeganathan of Stockbridge High School. "The program showed me how simplified it can be and provided the equipment and materials needed to successfully implement the Central Dogma Lab with all my classes." Teachers are also seeing increased student engagement through hands-on learning experiences. Tonie Curry of North Clayton High School used a chromatography lab to connect environmental science concepts to water pollution and sustainability. "Students were highly interested in seeing how substances separated and made strong connections to water pollution and environmental sustainability," Curry noted. "The hands-on nature of the lab encouraged curiosity and deeper understanding." For many educators, one of the most valuable aspects of the program is the connection between classroom learning and real-world careers. As Marshai Waiters of Marietta Middle School reflected: "Exposure is key. There are so many avenues to work in STEM, and they are all accessible with opportunity and knowledge. The insights gained from industry speakers will inform my teaching and create new opportunities for student exposure." When teachers are trained, equipped, and connected to industry, students gain more than a science lesson—they gain a window into Georgia's life sciences future.
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