NEW YORK, Aug. 6 – Functional proteomics startup Automated Cell has raised $2.6 million in a private placement, the company said on Monday.
Automated Cell, based in Pittsburgh, Penn., said in a statement that it would use the money to expand the capacity of its platform for identifying and studying protein function, and to accelerate its drug target discovery and validation research. The company’s technology relies on cellular models of cancer and immune diseases to determine which proteins play a role in disease.
Automated Cell has an exclusive license to cell biology and robotics technology developed by scientists at the University of Pittsburgh Medical School and Carnegie Mellon University.
In June, Automated Cell and Hybrigen said they would jointly attempt to discover and validate 12 drug targets in autoimmune diseases over 12 months. The two companies would co-own any drug targets that result from the collaboration.