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Miroculus Raises $45M in Extended Series B Financing

NEW YORK – Laboratory automation firm Miroculus said on Thursday that it has completed a Series B financing extension bringing the total capital raised in the round to $45 million.

The financing round was led by Cota Capital with participation from Section 32. In conjunction with the investment, Bobby Yazdani, founder and partner of Cota Capital, will join Miroculus' board of directors.

San Francisco-based Miroculus said that it will use the financing primarily to build out its commercial team and expand a beta program supporting a full commercial launch, originally planned for last year, of its first platform, the Miro Canvas sample prep system.

The Miro Canvas uses digital microfluidics to automate complex processes such as next-generation sequencing library prep in a compact, cartridge-based system. The company unveiled the platform last year at the Advances in Genome Biology and Technology annual meeting.

"The lack of an easy-to-use sample prep automation solution for the majority of clinical labs makes it very difficult to incorporate next-generation sequencing into routine testing, which ultimately limits access to advanced care in oncology, in particular," Mike Pellini, managing partner of Section 32 and former CEO of cancer molecular diagnostics firm Foundation Medicine, said in a statement. "We are dedicated to making state-of-the art healthcare available to patients in every setting. We see Miroculus' technology as a key to enabling this vision, and we are excited to partner with the team on this important endeavor."