NEW YORK – Lithuanian biotech company Atrandi Biosciences said on Tuesday that it has raised $4.8 million in venture capital to advance the global commercialization of its microfluidic and single-cell analysis technologies.
The Vilnius-based firm, formerly called Droplet Genomics, will also use the funds to establish a team to support US-based customers.
Vsquared Ventures led the funding round, with participation from Practica Capital and Metaplanet, bringing the total capital raised by the company to over $8 million.
Atrandi launched Styx, a droplet-based, benchtop high-throughput screening platform, last year. Styx complements the company's Onyx platform for next-generation sequencing library generation and functional assays.
Atrandi's semipermeable capsule technology addresses limitations in conventional microfluidics, such as high cost, limited applicability to different workflow types, and a limited number of single-cell data points.
"With our new semipermeable capsule technology, we overcome these limitations and give scientists the tools necessary to fully unleash the potential of single-cell experiments, next-generation genome sequencing, AI-driven drug discovery, or personalized medicine," Juozas Nainys, CEO of Atrandi, said in a statement.