NEW YORK (GenomeWeb News) – PCR technology development company QuantaLife announced late Friday that it had closed on a Series B financing round, raising $17.2 million.
The majority of the funds will be used to create a commercialization operation to launch its Droplet Digital PCR platform for the research market and to accelerate development of targeted diagnostic tests, the Pleasanton, Calif.-based company said in a statement.
QuantaLife's system was unveiled last month GenomeWeb Daily News' sister publication PCR Insider reported. The system has been available to early-access users, but the company has made it available to interested parties at a price of $50,000. The Droplet Digital PCR system, which comprises a droplet generator and a droplet reader, uses microfluidics and emulsion chemistry.
The Series B round was led by existing investors including Paladin Capital Group. New investors Merieux Developpement and Vital Financial also participated, QuantaLife said.
"With the completion of this financing, we have diversified our world-class investor base and we are well-positioned for a successful transition to commercialization," QuantaLife Founder and CEO Bill Colston said.