SEATTLE, June 27,
2024 /PRNewswire/ -- RareCyte, Inc. ("RareCyte" or
"the Company") a Life Sciences company providing advanced Precision
Biology platforms including instruments, reagents, software, and
services announced today the completion of a $20M financing from new and existing investors.
The funding is expected to enable the Company to drive an expansion
of the successful Orion Spatial Biology platform including
commercializing new multiplex assays, reagent products, and
software applications. The funding is also expected to support
expansion of RareCyte's Precision Biology Services including
spatial biology and liquid biopsy assays utilizing its Seattle, WA-based labs and scientific
personnel performed under CLIA and ISO 13485 certifications. Global
commercial expansion in regions outside the US will be amplified by
the new funding.
New investor Forest Road joined existing investors Arboretum
Ventures and F-Prime Capital (which co-led the
round) and investors HealthQuest Capital, 5AM Ventures, Agilent Technologies, Company
founder Ron Seubert, Sheatree capital,
and GKCC LLC. Bill Burkoth, Managing Partner
for Life Sciences at Forest Road commented, "we are thrilled to
join a world-class group of investors and partner with
the RareCyte team to drive towards realizing
the promise of Precision Biology for researchers and patients".
"We are honored to have Forest Road join an outstanding group of
investors led by Arboretum Ventures and F-Prime Capital." said
Joe Victor, RareCyte President and
CEO. "This funding will allow RareCyte to accelerate the
development of our broad menu of Spatial Biology assays,
applications, and software products to benefit our customers
worldwide".
The RareCyte Orion platform has been adopted and recognized
worldwide as the only spatial biology platform that addresses the
translational market requirements from discovery applications to
clinical trial support. Orion enables rapid sub-cellular scanning
and analysis of tissue and blood samples for up to 20 biomarkers
with turn-around times that will support large cohort studies.
Exquisite sensitivity and a broad dynamic range support
comprehensive cellular phenotyping utilized by researchers and drug
developers to determine mechanism of action for candidate
therapeutics. The Orion platform includes a broad array of
validated biomarkers allowing immediate access by researchers and
clinicians to advance studies across immuno-oncology, immunology,
neurology, infectious disease, and other critical disease
areas.
About RareCyte, Inc.
RareCyte is an innovative Precision Biology company that designs, manufactures, and markets worldwide end-to-end
integrated platforms enabling advances in discovery, translational
and future clinical markets. As a leading Life Sciences company,
our team of scientists and engineers are dedicated to design
products and provide services which advance precision medicine and
biomedical research, ensure successful clinical development
programs, and contribute to companion diagnostic development. For
more information on RareCyte visit rarecyte.com or connect on
LinkedIn at www.linkedin.com/company/rarecyte/ and X at
twitter.com/RareCyte. For Research Use Only, not for use in
diagnostic procedures.
Media Contact: media@rarecyte.com
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SOURCE RareCyte, Inc.