NEW YORK – Cell-sorting technologies firm NanoCellect Biomedical said Thursday that it has closed two financing rounds totaling $35 million as of this month, with plans to use the funds to accelerate its commercial growth and support new product development.
The firm's $15 million Series C round, led by Vertical Venture Partners, closed early this year. VVP was joined by existing investors including Agilent, Illumina Ventures, and FusionX Ventures; and by new investors including Yonjin Capital and Sagian Equity.
This was followed by a $20 million Series D financing led by Warburg Pincus, which closed in August. Warburg was joined by new investor, Casdin Capital, and by several existing investors including Illumina Ventures, VVP, Anzu Partners, FusionX Ventures, and Sagian Equity.
According to NanoCellect, the funds will support the launch of its second-generation Wolf G2 cell sorting system, fuel future product development, and help the company expand its commercial reach.
"The past 18 months have been challenging given the ongoing pandemic, but [we] completed the development and launch of our new Wolf G2 platform, added new international distribution partners, and nearly doubled our global installations," NanoCellect CEO Chris Neary said in a statement.