Seattle-based startup RareCyte on Thursday introduced $ 24 million in new funding to advance its cell assessment functions.
RareCyte sells imaging-based fluid and tissue biopsy assessment platforms that detect and analyze cells.
The company’s products are primarily intended for scientific and translational researchers in universities and biopharmaceutical companies. The company markets kits for preparing blood or tissue samples and devices for optically measuring cells. Their intention to commodity for automation and large volume sampling.
The brand new funding will fuel the commercialization and growth of its new Orion cell imaging and evaluation platform, launched last year, and allow the expansion of its various products into global markets.
The Orion instrument photographs a pathological slide at an excessive rate, detecting various molecular markers on cells labeled with fluorescent probes. The instrument has 21 detection channels, each capable of determining a single fluorescent channel, allowing simultaneous detection of a wide variety of markers.
The Orion system can deliver tons of detail on an organic model in a short period of time.
“The all-new Orion space biology platform coupled with the RareCyte portfolio of precision biology options will provide vital new capabilities for researchers and clinicians to advance critical utility areas similar to immuno-oncology,” Robert Weisskoff said in a statement. Weisskoff is a partner of F-Prime Capital, a funder of the new financing, and has joined the company’s board of directors.
Determining which immune molecules are present on cells and in how much can, for example, help researchers perceive how the body reacts to a tumor. The platform can further help advance the invention of molecules that predict disease progression similar to most cancers.
“On the planet of precision drugs, there is a huge unmet need for researchers and clinicians to probe their precious samples for high multiplexing data, but applied science can take more than a week to follow a pattern. “Said CEO Joe Victor in a statement saying the all-new platform last year,” We imagine Orion with a unique 21-channel entire slide scanning feature in just a few hours can have an influence vital in this essential space. “
RareCyte is one of many companies growing in the field of “space biology” as advances in optics, molecular methods and software evaluation advance the field. Different companies in the space include Seattle-based NanoString Applied Sciences, which markets its GeoMx Digital spatial profiling system, which can analyze a number of molecules to assess the activity of proteins or DNA in a cell. .
RareCyte also makes a number of products that allow researchers to detect and analyze circulating tumor cells – most cancer cells circulating in the blood. Analysis of these cells may present data on tumor creation, although long-standing efforts in the field to develop diagnostics based primarily on these cells are nonetheless underway.
RareCyte was formed by Utilized Precision in 2011, shortly after Normal Electrical acquired the Seattle-area company, which focuses on superior high-resolution and super-resolution imaging platforms for organic samples. Total funding within the company exceeds $ 100 million, of which $ 30 million in 2017 and $ 22 million in 2019.
Along with F-Prime Capital, other new traders are Logos Capital, Agilent Applied Sciences and Arboretum Ventures, who led the funding round. Current traders affected by the new funding are HealthQuest Capital, 5AM Ventures and RareCyte founder Ron Seubert, who was CEO until Victor took over in 2017.
RareCyte operates a 22,000 square foot facility in downtown Seattle.