Biomatrica said today that it has raised $5 million in private financing.
The San Diego-based company said that it would use the funding to strengthen its research initiatives, increase manufacturing capabilities, and improve company infrastructure.
Biomatrica's SampleMatrix stabilization technology enables samples to be stored outside cold environments while preserving their integrity. The core technology uses a phenomenon called anhydrobiosis as part of a synthetic, chemistry-based stabilization method that forms a thermostable barrier around a sample to provide protection against degradation and loss of biological activity.
In July, the company signed a Cooperative Research and Development Agreement with the US Army Medical Research Institute of Infectious Diseases to develop methods and kits for managing clinical and biological samples at room temperature under the agency's Diagnostics on Demand program (PCR Insider, 7/28/2011).
In June, Biomatrica said that it is collaborating with SAIC-Frederick to develop improved methods of isolating nucleic acids from tumor samples for cancer research applications and targeted therapy development (PCR Insider, 6/2/2011).
The new funding will help Biomatrica "accelerate the launch of new technologies and products that will stabilize diagnostic assays at ambient temperature," CEO and co-founder Judy Muller-Cohn said in a statement.