Redshift Bioanalytics, a US-based developer of bioanalytical tools for the life sciences industry, has completed an $11m series C round co-led by laboratory equipment producer Waters Corporation.
The round was co-led by venture capital firm Technology Venture Partners and increased Redshift’s overall funding to approximately $35m, according to regulatory filings.
Founded in 2005, Redshift produces tools like lasers, microfluidics and analytical technology that help protein scientists and drug developers create protein-based drug treatments. It will invest the cash in commercialising its biotechnology instrument platform.
Rusty Russell, manager of research and development for Waters Corporation’s TA Instruments Microcalorimetry division, said: “We see RedShift sitting at a compelling intersection in the drug development process.
“Their innovative instrument delivers critical results at speeds and sensitivities that we have not seen with any other solutions in the marketplace today.”
Redshift’s early funding came from Emerson Ventures, a subsidiary of process and automation product maker Emerson Electric, as well as Technology Venture Partners, Interwest Partners, Alta Partners, YankeeTek Incubator Fund and St Paul Venture Capital.