TARGAN (formerly Applied LifeSciences & Systems (ALSS)) announced the closing of a $35 million Series C equity financing round. Mountain Group Partners and NovaQuest Capital Management co-led the financing.
Merck Animal Health and Oval Park Capital, both existing investors, also participated in the round. TARGAN is currently developing a system for the commercial poultry industry that incorporates its proprietary technologies such as high-speed imaging, feature recognition, artificial intelligence, robotics, and microfluidics.
This system can vaccinate up to 100,000 chicks per hour individually and accurately against diseases such as coccidiosis, infectious bronchitis, and Newcastle disease. Furthermore, TARGAN has created a one-of-a-kind, fully automated system for determining the gender of individual chicks, allowing poultry producers to rear separate sexes.
With the Series C investment, TARGAN will be able to accelerate the commercialization of its automated and personalized poultry vaccination and gender identification systems.
About TARGAN
TARGAN, headquartered in Morrisville, North Carolina, is a Biotechnology Systems company poised to transform the animal protein production industries around the world by bringing affordable, individualized care technologies to market. By 2050, global meat consumption is expected to double. Meat consumption is increasing due to the world’s growing population and the popularity of animal protein.
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