NanoCellect Biomedical Raises $10M in Series B Funding
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.”