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CyVek Raises $5.5M in Preparation of Platform Launch

NEW YORK (GenomeWeb News) – CyVek today said that it has raised $5.5 million in a Series D financing round.

The funding will go toward building an infrastructure to commercialize the company's multiplex immunoassay technology called CyPlex, which uses a microfluidic cartridge for analyzing multiple biomarkers from small amounts of biological samples. CyPlex will be used initially for life sciences, drug discovery, and clinical research applications, the Wallingford, Conn.-based company said.

CyVek did not respond to a request for additional information about its commercialization plans.

Connecticut Innovations and private investors participated in the round, CyVek said.

"The funding provided by our investors will enable us to complete development-related activities and put together the team and infrastructure required to commercialize," Per Hellsund, founder, president and CEO of CyVek, said in a statement.

CyVek was founded in 2010 and raised $2 million in a private equity offering then. Last May, the firm raised $2 million in a Series C round.