ST. LOUIS, MO -- (Marketwired) -- 05/20/13 -- Graematter, Inc. announced today the successful closing of its seed round of fundraising. The company set an initial goal of $500,000 and closed at $835,000.
Graematter has developed a unique, patented regulatory intelligence system. The system integrates data from a number of FDA-related databases and data sources into a single database that provides advanced search capabilities.
"The Graematter System solves a huge unmet need and provides true regulatory intelligence," said Melissa Walker, Founder and President of Graematter. "The FDA has done a good job of pushing information out into the public domain over the past ten years, but the quantity of information is now becoming massive, and it is scattered over more than 100 databases. Graematter allows regulatory professionals in the medical products industries to more quickly and effectively find the information they need. Searches that had previously taken days or weeks can now be completed in less than two hours, and it greatly reduces the probability of missing critical information," she added.
In 2012, Graematter was chosen as one of a select group of companies to showcase its technology at the Health and Human Services Datapalooza Event in Washington, DC. This event featured major innovations in U.S. healthcare information technology.
"We are very pleased with the broad interest investors have shown in Graematter, allowing us to surpass our initial seed round fundraising goal. We have been gratified by the interest in our company," CEO Merle Symes said. "Graematter received start-up capital from BioGenerator, who served as lead investor, along with the St. Louis County Port Authority's Helix Fund, the Missouri Technology Corporation, Washington University's Skandalaris Student Venture Fund, the St. Louis Arch Angels and other private investors. Graematter also was named an Arch Grants recipient."
Graematter's mission is to get innovative medical products to patients faster, by providing superior regulatory intelligence that will improve the quality of medical product development and regulatory submissions. The company expects to launch the product into the market by mid-year, 2013.
About Graematter, Inc.
Graematter, Inc. is an early stage venture headquartered in St. Louis, Mo. that is focused on information technology solutions for regulated environments. The founder, Melissa Walker, is the past President and Chairman of the Board of the Regulatory Affairs Professionals Society. For more information, please visit www.graematter.com.