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Scipio Bioscience Raises $6.5M in Series A Financing

NEW YORK — Scipio Bioscience said on Tuesday that it has raised €6.0 million ($6.5 million) in Series A financing.

The round was led by M Ventures, the venture capital arm of Merck KGaA. It also included existing investors Seventure Partners' Quadrivum I and High-Tech Gründerfonds, as well as new investors Financière Arbevel and Investiere.

Paris-based Scipio said it will use the funding to finish development of its single-cell RNA sequencing kit, as well as to prepare for the product's expected commercial launch in 2022. The kit is based on a technology that enables barcoding in a test tube format to prepare samples for single-cell profiling.

"We are convinced that our user-friendly kit, requiring no specific equipment and accessible for any benchtop, will enable thousands of additional scientists to perform single-cell RNA sequencing," Scipio President Stuart Edelstein said in a statement adding that the firm is “delighted to initiate collaborations for beta-testing of our kit," initially with Institut du Cerveau et de la Moelle Épinière where the company is currently located.

In late 2017, Scipio raised €1.2 million in seed financing to develop a prototype of its sequencing kit.