NEW YORK (GenomeWeb News) – Protein analytics firm BioScale said today it has raised $25 million in a recent financing round, to be used to commercialize the company's technology.
The round was led by new investor Morningside Venture, as well as existing investors New Science Ventures, WFD Ventures, F2 Ventures, and several individual investors.
BioScale will use the funds to expand manufacturing operations and sales of its ViBE protein analytics systems, the company said in a statement.
ViBE provides highly sensitive reproducible detection and quantitation of analytes in complex biological samples, BioScale said, and allows customers to create and configure their own assays using BioScale's lead technology, called Acoustic Membrane MicroParticle, or AMMP.
AMMP is a label-free non-optical homogeneous assay that allows ultra-sensitive detection in complex matrices at the picogram level.
In a statement, Isaac Cheng of Morningside Venture said that his firm is "excited" about the therapeutic and diagnostic potential of BioScale's protein biomarkers, "and feel BioScale's next-generation proteomics platform is well-positioned to become a leader in the protein measurement space."