US-based life science tools manufacturer NanoCellect Biomedical secured $10m in series B capital yesterday from investors including Illumina Ventures, the corporate venturing division of biotech developer Illumina.
Healthcare equipment and services provider Agilent Technologies also took part in the round, investing alongside Anzu Partners, Vertical Venture Partners, FusionX Ventures and 5 Prime Ventures. An undisclosed portion of the amount was in the form of convertible notes.
Founded in 2011, NanoCellect Biomedical has developed a set of tools that enable researchers to sort cells and undertake antibody discovery, cell line development, genomic sample preparation and genomic editing through Crispr in a faster and safer way that avoids contamination.
The company will use the funding to expand its commercial activities and accelerate development of its products in areas including antibody discovery and gene editing. Alexis Ji, partner at Illumina Ventures, will join NanoCellect’s board of directors.
NanoCellect previously secured $1.75m in funding in January 2016, according to a regulatory filing, and $500,000 in debt financing in September 2016. Agilent Technologies and FusionX Ventures were named as returning investors for the series B round.
Ji said: “The ability to sort distinct populations of cells has wide-ranging applications for the research and biopharmaceutical industries.
“NanoCellect’s plug-and-play, easy-to-use, and maintenance-free microfluidic solutions are a significant leap in making cell analysis and sorting more accessible and affordable.
“We are excited to work with NanoCellect and our co-investors as the company continues to modernize the cell discovery workflows.”