NEW YORK – Proteomics firm NanoMosaic said Monday that it has closed a $40.8 million Series A funding round.
The Boston-based company said it will use the funds to build its commercial infrastructure, further its application development efforts, and pursue collaborative diagnostic development programs.
The round was led by RA Capital Management and joined by Insight Partners, Pura Vida Investments, Time BioVentures, and Tiger Gene.
NanoMosaic's proteomics platform, called Tessie, uses arrays of silicon "nanoneedles" that are functionalized with antibodies or other affinity reagents to detect and quantify proteins. The system's measurements are based on changes in resonance that occur when target molecules bind to the functionalized needles, resulting in a change of color. The platform can also detect nucleic acids.
NanoMosaic is targeting Q1 2022 for launch of the system. According to the company, this first-generation system will allow for protein measurements across seven orders of magnitude in up to 384 samples in 20 minutes. It will also allow for protein and nucleic acid measurements on the same chip in a single run.
"NanoMosaic places the future of proteomics in the hands of scientists: fully configurable, simple to run, and ripe for additional application development," Anurag Kondapalli, principal at RA Capital, said in a statement.
"RA Capital, Insight Partners, Pura Vida Investments, and Time BioVentures have been significantly involved with the company and have developed a strong rapport with the NanoMosaic team," said John Boyce, cofounder, interim president, and CEO of NanoMosaic. "The collective effort of the syndicate will enable novel proteomics and multiomics applications that will usher in a new era of diagnostic and therapeutic development initiatives."