Somark raises undisclosed amount in new VC funding

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St. Louis: Somark Innovations raised an undisclosed amount of new venture capital funding. The round was led by Finistere Ventures and T2 Venture Capital. Other investors include Med-Pharmex Animal Health and the St. Louis Arch Angels. Somark is developing a patented chipless RFID tattoo for animal identification system. Applications include lab animals to improve drug development processes and cattle for food supply safety. Somark will open an R&D facility in San Diego in addition to its St. Louis location at the Center for Emerging Technologies. "This financing will enable the product development of our lab-animal identification system that will improve drug development processes. The goals of our lab-animal product are to decrease the costs of drug development and to increase the accuracy of pre-clinical data," said Mark C. Pydynowski, Somark President. According to Finistere Managing Director, and Somark Board member Arama Kukutai, "Finistere sees Somark's technology as a better way to provide cost effective and reliable traceability in animal applications, initially in lab settings, but also in food and other applications in the future. The company is a great example of the type of innovation coming out of what have been considered 'flyover' states like Missouri." "I am looking forward to enhancing our R&D team," said Ramos M. Mays, Somark Chief Science Officer. "The Southern California locale offers a rich talent pool of veteran engineers that possess the expertise we need and that understand the nuances of developing a product from concept to market in a start-up setting."

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