February 8, 2008 »»» Triathlon Invests in Cancer Firm

Triathlon Medical Ventures has led a $6.3 million financing round in CS-Keys, an Indianapolis-based company working on cancer biomarkers.

CS-Keys plans to release its first product, for cancer detection, this year.

"We think this is a good addition to our portfolio," said Carrie Bates, a managing partner in Cincinnati-based Triathlon. "It's expected to generate revenue this year. When you're in early-stage pharmaceuticals, it can be many years before you have revenues. We try to balance the portfolio to make sure we have some that will have revenues sooner, some that will have revenues later, some that are in medical devices, some that are pharmaceutical."

As lead investor for the Series A financing, Triathlon contributed the largest amount. Other investors were Ceres Venture Fund of Evanston, Ill., Clarian Health Ventures of Indianapolis, Prolog Ventures of St. Louis and Spring Mill Venture Partners of Indianapolis.

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