NEW YORK – IsoPlexis said today that it has raised an additional $20 million as part of its Series C financing.
That follows the $25 million the company announced in May 2019, bringing the total figure for the round to $45 million. The round was led by Northpond Ventures, along with participation from existing investors.
The company said it plans to use the funds to drive commercialization of its IsoLight single-cell proteomic system. IsoPlexis has 130 employees and recently expanded its presence throughout the US, Europe, and Asia.
Isoplexis's IsoLight platform uses microchips featuring arrays of thousands of microchambers that isolate individual cells from samples of interest. These chambers are then sealed with a slide patterned with groups of antibodies in a number of different spatially isolated lines. This allows the researchers to identify proteins based on the color of fluorescence produced upon binding and the location on the slide where the binding event occurs. In this way, they can multiplex well beyond the levels allowed by fluorescence readout alone.
The company has focused thus far on single-cell analysis of T cell cytokine production with the goal of better predicting patient response to immunotherapy. It plans to launch new assays including for measuring markers at the single-cell level in innate and myeloid cell types and assays for single-cell metabolomics and cancer signaling studies.
"We are excited to continue our partnership with our investor base and to broaden our commercial impact globally with our single-cell proteomic systems. Our leadership in providing meaningful cellular insights to the world of cancer immunology has rapidly translated to broad uptake for our solutions, and we are looking forward to expanding our work with customers and building upon recent progress," Sean Mackay, CEO and co-founder of IsoPlexis, said in a statement.