NEW YORK – Newomics said on Tuesday that it has closed a $7.9 million Series B funding round.
The round was led by MSA Capital, with new investor LDV Partners and existing investors including the Berkeley Catalyst Fund and the Photon Fund also participating.
Berkeley, California-based Newomics said it will use proceeds from the round to further commercialize products based on its mass spec multinozzle emitter array (MEA) technology, grow its sales and marketing as well as customer support teams, and expand collaborations with mass spec vendors.
The company's MEA technology splits sample flow into multiple smaller streams to improve sample ionization and mass spec performance. Last month, it launched a new product, the Microflow-nanospray Electrospray Ionization (MnESI) Source, which is targeted to clinical diagnostics and drug discovery research and which it comarkets with Thermo Fisher Scientific.
"We are excited to continue our partnership with Newomics. Their new product launches and sales success with frontrunners like Regeneron exemplify their innovative technology and showcase the industrious team driving the company forward," Ben Harburg, managing partner at MSA Capital, said in a statement.