NEW YORK – Protein analysis firm Abselion said Wednesday that it has secured £6.6 million ($8.4 million) in Series A financing.
The company said it will use the funds to support commercialization of is Amperia system for automated protein quantitation.
The round was led by M Ventures (the venture capital arm of Merck) and included participation from new investors BioProcess 360 Partners and Untitled Ventures, along with BGF, R42, and other existing investors. Concurrent with the round, Oliver Hardick of M Ventures and Chris Major of BioProcess 360 Partners have joined Abselion's board of directors.
Built on proprietary Redox Electrochemical Detection (RED) technology, the Amperia system is a benchtop instrument that allows scientists to quantify antibodies and other proteins directly from crude samples in as little as one minute.
"Providing meaningful data as close to the process as possible is a crucial pillar of enabling improved bioprocess development and manufacturing robustness," M Ventures' Hardick said in a statement. "Abselion's Amperia system does exactly this by delivering gold-standard insights in minutes that bioprocess teams typically wait days for."
"We are delighted to have the support of our investment partners to advance our mission to provide scientists with critical real-time data at the point of need," Abselion CEO Ruizhi Wang said in a statement. "The Amperia RED technology delivers the accuracy, speed, and agility required for insights that enable confident decision-making, driving bioprocess optimization and innovation."