US-based analytical instrument developer RedShift BioAnalytics completed an oversubscribed $18m series D round on Wednesday featuring laboratory equipment producer Waters Corporation.
RedShift has created a protein characterisation system for use in the development and production of protein-based therapeutics. It combines infrared technology and data analytics tools to track changes in protein structural attributes that had previously not been detectable.
The company has deployed production systems at three pharmaceutical companies and intends to put the series D proceeds into commercial growth and product development. It has also appointed Julien Bradley, formerly of biomarker analysis technology developer Qunaterix, as CEO.
Waters had already co-led the company’s $11m series C round with venture capital firm Technology Venture Partners in 2017, a round that boosted its total funding to $35m according to securities filings.
Emerson Ventures, the corporate venturing arm of process and automation equipment producer Emerson Electric, was among RedShift’s earlier backers, as were Interwest Partners, Alta Partners, Technology Venture Partners, St Paul Venture Capital and YankeeTek Incubator Fund.
