US-based biomedical equipment developer Mobilion Systems completed a $35m series B round yesterday that included diagnostics services provider Agilent Technologies.
Life sciences-focused venture capital fund aMoon led the round, which also featured pension fund, VC firm Cultivation Capital and commercialisation firm IP Group, which invested both directly and through its North American subsidiary.
Mobilion provides scientific apparatus to help biopharmaceutical researchers separate, identify and analyse proteins, and examine molecules such as glycans, which existing methods struggle to determine.
The company’s Structures for Lossless Ion (Slim) technology disintegrates each protein in conjunction with a laboratory’s liquid chromatography and mass spectrometry equipment, generating high-resolution analysis to distinguish pathogens associated with each biomolecule.
Slim is currently being used to help better understand how the Sars-CoV-2 virus binds to its target in order to develop treatments for Covid-19. It is only available to select clients at present but Mobilion expects to release the product to the wider North American market in 2021.
The series B cash will fund additions to Mobilion’s staff on the back of Slim’s initial release, advancing new standalone iterations that do not require integration with existing lab systems, mainly to facilitate diagnostics and quality control.
Todd Sone, a partner at aMoon, will join the company’s board of directors. Agilent led its $15.4m series A round in November 2019, investing together with IP Group, Hostplus, Cultivation Capital and iSelect Fund.
The original version of this article appeared on our sister site, Global University Venturing.