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Cell Biosciences Raises $10M in Private Financing

NEW YORK (GenomeWeb News) – Cell Biosciences has raised $10 million through a Series C private financing, the Palo Alto, Calif.-based firm said today.

The company has developed an "ultrasensitive" nanofluidic immunoassay system designed to analyze proteins in very small biological samples. It said researchers can use the system to discover details about phosphoprotein signaling in a wide variety of biological systems.

Investors in the round included the firm's largest shareholder, the Wellcome Trust. Existing investors Domain Associates, Latterell Venture Partners, Novo A/S, Mitsui Ventures, Royal Bank of Canada, and the Vertical Group also participated in the round.

"This investment should allow us to fully execute our plan to bring this revolutionary proteomics technology to the broad life sciences market," Cell Biosciences CEO Tim Harkness said in a statement.

Cell Biosciences also noted that it will launch its next-generation protein analysis system, the CB1000, at the American Association for Cancer Research annual meeting in Denver later this month.