private financing

Investors in the company, formerly known as Vermillion, have agreed to purchase $11 million in unregistered common stock at a price of $3.50 per share.

Among the brands comprising Calibre are Alpha-Tec Systems, EdgeBio, Microlytic, Molecular Dimensions, and NexTal, which it acquired from Qiagen earlier this year.

The company said it will use the funds in part to continue development of its artificial intelligence-based proteome-wide drug discovery platform.

The latest group includes several firm developing genomics tools or diagnostics, but COVID-19 is preventing them from accessing their lab space for the time being.

The firm said that the proceeds will be used to complete the development of the Cue Health Monitoring System and Cue Test Cartridges.

The company is developing a mass spec-based instrument for the detection and identification of airborne opioids, microbes, and toxins in real-time. 

The Rehovot, Israel-based precision medicine firm will use the funding to scale clinical trials and expansion to the UK.

The company is also working on a diagnostic COVID-19 test, called LamPore, that will run on its MinIon and GridIon nanopore sequencing platforms

The startup aims to develop a low-cost, high-throughput proteomics platform that combines biochemistry with computer science and information technology.

Silicon Valley venture capital firm Andreessen Horowitz led the round, joined by 8VC, SV Angel, Allen & Co, and several other undisclosed private investors.