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LevitasBio Raises $35M in Series C Financing

NEW YORK – Life sciences sample processing and analysis provider LevitasBio said on Monday that it has completed a $35 million Series C financing round.

The round was led by Novalis Lifesciences, with participation from Pavilion Capital, a unit of Temasek, and previous investor Decheng Capital.

LevitasBio said it will use the funding to accelerate its development and commercialization of next-generation high-throughput instruments for sample processing and analysis, building upon the company’s magnetic levitation-based cell purification and separation technology.

The Menlo Park, California-based Stanford spinout said it expanded product development over the last year to include assays, platforms, or software for cold tissue dissociation, surface marker enrichment, and sample processing with higher throughput and temperature control, as well as integrated analysis for real-time on-platform analysis.

"Unlike current industry methods that induce alterations, stress, or damage that mask the true biology of your sample, LevitasBio solutions preserve the key biological signatures that deliver the most viable and unaltered cells, providing researchers clearer data for actionable insights," LevitasBio CEO ​​Martin Pieprzyk said in a statement.

"This funding furthers our plans to become the benchmark platform for sample processing workflows," LevitasBio VP of Finance Joe Walthers said in a statement.