NEW YORK (GenomeWeb) – Nucleic acid sample preparation solutions provider Arcis Biotechnology has raised £1.25 million ($1.63 million) from existing and new investors, the firm announced today.
The Daresbury, UK-based firm closed the investment round, as well as a decision to overfund by an additional £0.5 million, through specialist life sciences equity crowdfunding platform Capital Cell.
Arcis' patent portfolio covers extraction and preservation of DNA and RNA for downstream applications, offered as standalone kits or through OEM sample preparation integration for assay manufacturers. The firm has also been developing a urine-based multiplex RNA-biomarker prostate cancer screening test in collaboration with researchers at the University of Surrey.
Arcis will use the funds to invest further in research and development, expand its product range, and drive international business expansion, according to a statement.
"The Arcis technology has a strong IP portfolio, and has received a great deal of interest from commercial partners looking to negotiate a license or OEM deal," said Peter Whitehurst, the firm's CEO. The firm decided to work with Capital Cell "due to their innovative approach, and their network of specialist life sciences investors," Whitehurst added.