NanoCellect Biomedical Raises $10M in Series B Funding
SAN DIEGO, CA (November 28, 2017) — NanoCellect Biomedical Inc., a developer of microfluidic cell sorting technologies for cell based assays, today announced the completion of a $10 million Series B financing round, including convertible notes. The financing included the participation of new investors Illumina Ventures, Anzu Partners, Vertical Venture Partners, and 5 Prime Ventures. Also participating in the round were existing investors FusionX Ventures and Agilent Technologies.
“We are thrilled to be backed by a stellar group of new and current investors, and view the strength of the participants as further validation of the potential of our WOLF Cell Sorter to play a significant role in modernizing cell based assays,” said Jose Morachis, Ph.D., President and Chief Executive Officer and co-founder of NanoCellect. “The proceeds from this financing will enable us to continue to expand our commercial activities and accelerate our efforts in highly promising application areas in cell line development, genomic sample preparation, CRISPR gene editing, and antibody discovery. We look forward to working together with our new partners in making cell sorting easy and accessible.”
NanoCellect also announced today that Alexis Ji, Partner at Illumina Ventures, has joined the company’s Board of Directors. Illumina Ventures invests in early-stage companies that are pioneering new applications of genomics and enabling precision medicine – including life sciences tools, clinical diagnostics, and therapeutics platforms.
“The ability to sort distinct populations of cells has wide-ranging applications for the research and biopharmaceutical industries,” said Ji. “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.”
NanoCellect is a life science tools company manufacturing cell sorters that use proprietary microfluidic technology. NanoCellect’s WOLF cell sorter and N1 single cell plate dispenser allows researchers to perform antibody discovery, cell line development, genomic sample preparation and CRISPR genomic editing faster, safer, and without contamination. The compact, sturdy, and affordable system allows researchers to safely perform cell sorting and single-cell plating experiments at their convenience.
About Illumina Ventures:
Illumina Ventures invests in early-stage companies that are pioneering new applications of genomics and enabling precision medicine – including life science tools, clinical diagnostics, and therapeutic platforms. Our limited partners include Illumina, the world’s leading genomics solutions provider, and global corporate, institutional, sovereign, and individual investors. Our team members have spent decades at the forefront of genomics innovation and share a passion for improving human health. For more, visit www.illuminaventures.com.
About Anzu Partners:
Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial technologies. We team with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com.
About Vertical Venture Partners:
Vertical Venture Partners (VVP) is a venture capital firm that invests in early stage companies with an emphasis on bringing game-changing solutions to bear on problems and inefficiencies affecting specific industry verticals, including healthcare. The VVP team has extensive start-up operating experience across a wide array of market sectors and technology fields. We strive to leverage that experience alongside visionary founders with the focus and drive to build lasting companies.
About FusionX Ventures:
FusionX Ventures is an early-stage Venture Capital fund focused on helping companies build the next generation of cloud-enabled Smart Machines. We focus primarily on recurring revenue opportunities where we can contribute strategic value through design, manufacturing, or go2market strategy. We work in close partnership with the leading product realization company for Smart Machine solutions, D&K Engineering. For more information, please visit www.fusionxventures.com.
About 5 Prime Ventures:
5 Prime Ventures invests in early-stage life sciences companies innovating at the intersection of biology, technology, and data science. From next-gen platform technologies to CRISPR-Cas genome editing, our portfolio companies are transforming biomedical research, diagnostics, agriculture, chemicals, and other industries beyond traditional biotech therapeutics.