On October 12, 2021 Akadeum Life Sciences, Inc. closed the transaction. The company raised $17,500,000 in a round of funding led by new investor Arboretum Ventures LLC. The transaction included participation from Agilent Technologies, Inc., Bluestone Venture Partners, LLC, Michigan Rise, Lifespan Ventures Inc., returning investors Beringea, LLC, Berkeley Catalyst Fund Management LLC, Michigan Capital Network, University of Michigan Endowment Fund, , and others.

The transaction was oversubscribed. Dan Kidle, Managing Partner at Arboretum Ventures, LLC will join company's board of directors.