Previous NanoCellect closes $1.75M Series A financing round
San Diego, CA—Feb 4th, 2016—NanoCellect Biomedical, a developer of affordable and accessible flow cytometry and cell sorting technology for life sciences, will begin production of their WOLF Cell Sorter. The Series A investment was led by Ken Hood of San Diego’s FusionX Ventures, an early-stage investment fund.
The WOLF Cell Sorter enables easy-to-use cell sorting of specific cells from mixed populations. The technology uses a unique microfluidic cartridge that eliminates sample contamination between runs and increases cell viability with low pressure sorting. Plus, the WOLF Cell Sorter is aerosol-free and eliminates containment systems. In addition to having many advanced features not found in traditional cell sorters, the WOLF will be the most affordable, smallest, and easy to use system in the market. “Our latest funding is a boost for our commercialization path and we are excited to have a great team join us in our vision to enable biomedical applications that require cell sorting,” says José Morachis, CEO of NanoCellect.
The Series A round comes on the heels of a $225K SBIR grant awarded in September 2015 in addition to over $6M in SBIR grants and contracts awarded previously. This funding has allowed NanoCellect to validate its core technology with early adopters, and demonstrate the utility of the WOLF Cell Sorter as a research enabler. NanoCellect continues to see strong demand in the areas of cancer and stem cell research. Furthermore, a growing demand to sort CRISPR modified cells makes the WOLF Cell Sorter an attractive system for research and cell therapy. The company aims to release Beta instruments later this year followed by a full launch soon after.
In conjunction with the financing, Ken Hood joined company co-founders Jose Morachis, Nate Heintzman and Will Alaynick on NanoCellect’s Board of Directors. Ken Hood is a Managing Partner for FusionX Ventures with 20 years of experience in executive leadership roles and an MBA from Stanford. Most recently, Ken was Founder and CEO of ClearAccess, which was acquired by Cisco. NanoCellect was initially incubated and started by ScholarNexus, a life science startup incubator, in collaboration with Professor Yuhwa Lo’s group at UCSD.
About NanoCellect Biomedical:
NanoCellect’s mission is to facilitate biomedical breakthroughs by making cell analysis and sorting technology more affordable and easier to use. Our microfluidic flow cytometry platforms enable biomedical scientists to analyze and sort cells required for drug discovery, diagnostics, and basic research.
About FusionX Ventures:
FusionX Ventures is an early-stage investment fund focused on helping companies build the next generation of cloud-enabled Smart Machines. We help companies reduce execution risk by combining our go2market experience and advisor network with design, manufacturing, and program management. We have a unique partnership with D&K Engineering, who specializes in class-leading product realization.
ScholarNexus is a life science incubator that identifies promising commercial technology and talent in academic and research organizations. It serves as a seed-stage vehicle for startups and helps to fund operations via multiple channels, including government funding.