US-based protein analysis technology developer Biodesy has completed a $10m series B round featuring pharmaceutical firms Pfizer and Roche.
The corporates, which participated through respective units Pfizer Venture Investments and Roche Venture Fund, were joined by venture capital firm 5AM Ventures. The series B investors had previously combined to supply $15m in series A funding for Biodesy in 2013.
Biodesy has developed a device called Biodesy Delta System to help pharmaceutical researchers track and analyse conformational change as they conduct studies. The funding was raised as the company signed its 20th agreement with a commercial partner.
Biodesy CEO Greg Yap said: “Conformational changes in protein structure cause changes in protein function. However, measuring these changes had been impractical. Biodesy has developed the first and only technology to enable researchers to distinguish functionally and clinically relevant changes in real time and high throughput.
“The signing of our 20th commercial services agreement demonstrates customer demand, and this financing will help us establish conformational change as a fundamental tool for next-generation protein analysis in drug discovery and basic research.”