NEW YORK – Tissue imaging firm Ultivue announced Tuesday that it has closed a $50 million Series D financing round.
The Cambridge, Massachusetts-based company said it would use the funds to expand commercialization of its InSituPlex technology and grow its research and development efforts.
The round included previous investors Arch Ventures, Northpond Ventures, and Applied Ventures along with new investors including Ally Bridge Group, Pura Vida Investments, and Tao Capital Partners.
Ultivue's InSituPlex technology uses antibody-DNA barcoding to measure protein biomarkers in tissue with same-slide traditional H&E staining for phenotyping. The company sells its technology for precision medicine research including in cancer immunotherapy.
"Ultivue is driving to make immunotherapy a reality for every patient that needs it with leading technology that enables advanced exploration and interrogation of tissue samples for precision medicine research," Adam Wieschhaus, director at Northpond Ventures, said in a statement.
"We’re excited to welcome our newest investors, and greatly appreciate the support from our existing investment partners," said Jacques Corriveau, president and CEO of Ultivue. "This funding will allow us to expand our commercial efforts while also increasing the scope of our research and development in order to remain at the forefront of innovation and provide biological insights for our customers as they work to address the challenge of therapeutic response rates in patients using immunotherapy."