NEW YORK (GenomeWeb) – IsoPlexis said today that it has raised $25 million in a Series C financing round.
The round was led by Northpond Ventures and included what the company called "new strategic investment," as well as funds from current investors Spring Mountain Capital, Ironwood Capital, North Sound Capital, and Connecticut Innovations.
The single-cell protein analysis company will use the funds to expand its operations across the US, Europe, and Asia as well as to support the launch of new assays including for measuring markers at the single-cell level in innate and myeloid cell types and assays for single cell metabolomics and cancer signaling studies.
Isoplexis's IsoCode platform uses microchips featuring arrays of thousands of microchambers that isolate individual cells from samples of interest. These chambers are then sealed with a slide patterned with groups of antibodies in a number of different spatially isolated lines. This allows the researchers to identify proteins based on the color of fluorescence produced upon binding and the location on the slide where the binding event occurs. In this way, they can multiplex well beyond the levels allowed by fluorescence readout alone.
The company has focused thus far on single-cell analysis of T cell cytokine production with the goal of better predicting patient response to immunotherapy.
"We are pleased to lead the financing of IsoPlexis, an emerging leader in single cell analysis, which is catalyzing research in immunotherapy as well as a number of other high value applications," Chris MacGriff of Northpond Ventures said in a statement.
"The more unique and revealing data our customers gather on our systems, the closer we get to an era of more personalized and proactive medicine in engineered cellular therapy, immune-oncology, autoimmune disease, and beyond," said Sean MacKay, CEO and co-founder of Branford, Connecticut-based IsoPlexis.
The company in 2017 raised $13.5 million in a Series B funding round and $1.3 million in a 2014 Series A round.