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RareCyte Raises $20M to Commercialize Spatial Platform

NEW YORK – RareCyte said Thursday that it has raised $20 million from new and existing investors to continue development of its Orion Spatial Biology platform.

Arboretum Ventures and F-Prime Capital co-led the round, joined by new investor Forest Road. Existing investors HealthQuest Capital, 5AM Ventures, Agilent Technologies, Sheatree Capital, GKCC, and RareCyte Founder Ron Seubert also joined the round.

In a statement, the Seattle-based firm said it would use the funding to commercialize new multiplex assays, reagents, and software applications. It also expects to expand its protein-based spatial biology and liquid biopsy assays and to expand outside the US.

RareCyte added $24 million in 2021 to help it expand globally; the firm has raised at least $96 million in total.

The firm's Orion platform enables subcellular scanning and analysis of tissue and blood samples for up to 20 biomarkers.