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Ultivue Closes $22M Series C Round

NEW YORK — Ultivue said today that it has closed a $22 million Series C round of financing.

The round was led by new investor Northpond Ventures with participation from existing investors including Arch Venture Partners, 6 Dimensions Capital, Yonghua Capital, and Applied Ventures.

Cambridge, Massachusetts-based Ultivue develops assays and reagents for tissue-based biomarker research and discovery including the UltiMapper line of multiplexed kits. The company said it will use the new funding to expand its UltiMapper portfolio and expand its presence in Asia and other international markets.

"This latest round of financing sets the stage for substantial growth and allows us to continue developing the innovation to meet the evolving needs of our customers in translational and clinical research," Ultivue CEO Michael Natan said in a statement.

Earlier this year, Ultivue partnered with Definiens to develop immuno-oncology research products.