NEW YORK (GenomeWeb News) – Labcyte has reeled in $5.3 million in Series D financing, which it plans to use to expand its acoustic low-volume liquid handling systems, the company said on Tuesday.
The new funding included backing from new investor GE Ventures' Heatlhymagination fund, and current investors, including Abingworth, Alloy Ventures, Cross Atlantic Partners, Delphi Ventures, H&Q Healthcare Investors, and H&Q Life Sciences Investors.
Sunnyvale, Calif.-based Labcyte said its acoustic systems enable the transfer of very low volumes of liquids without the use of pipettes, lowering costs and reducing errors, and provide the capability to miniaturize assays, which can boost throughput and productivity.
"Our systems are being employed to further personalized medicine with multiple applications in genomics, proteomics, diagnostics and cell health," Labcyte CEO and President Mark Fischer-Colbrie said in a statement.
"Closing the funding will further enable us to add to our product lines and accelerate our growth," he said.