MobiLion Systems, a US-based molecule analysis instrument developer, yesterday raised $15.4m of series A capital led by diagnostics services provider Agilent Technologies.
Superannuation fund Hostplus, commercialisation firm IP Group and venture capital firms Cultivation Capital and iSelect Fund filled out the round.
Founded in 2015, MobiLion Systems is working on high-throughput analytical instruments for the pharmaceutical industry that can be applied alongside liquid chromatography-powered mass spectrometry technologies to detect and analyse molecules with greater accuracy than existing applications.
MobiLion Systems’s approach relies on an analytical technique called ion mobility separation, where molecules are ionised in a carrier buffer gas and then sectioned depending on their state of mobility.
The technology should in theory offer drug development projects greater stability and resolution.
MobiLion is also developing a standalone version which functions without mass spectrometry to support pharmaceutical quality control and diagnostics.
The company is a spinout of Pacific Northwest National Laboratory and is led by chief executive Melissa Sherman, former director of technology and business development at IP Group.
MobiLion will put the capital toward its development pipeline, and also hopes to catalyse partnerships with biopharmaceutical and academic partners and offer biopharmaceutical outsourcing services.
– A version of this article first appeared on our sister site, Global University Venturing.