DVS Sciences, a Toronto, Canada-based an analytical equipment and reagents development company, has completed a $14.6m Series A financing.
The round was led by 5AM Ventures, with particiption from Mohr Davidow Ventures, Pfizer Venture Investments and Roche Finance.
The company intends to use the capital to create manufacturing facilities in Ontario, establish a distribution network and increase global sales of its CyTOF™ analytical instrument, which is designed to enable highly multiplexed biomarker analysis for scientific research, clinical trials and personalized medicine. Several CyTOF instruments have already been sold to leading laboratories in Canada, the U.S.A. and Asia.
A spinoff from the University of Toronto and led by President Dr. Scott Tanner, DVS Sciences was an early recipient of seed funding from the Ontario Institute for Cancer Research (OICR), which is an independent, not-for-profit corporation established in 2005.
The company also produces and markets the MAXPAR™ system of novel reagents related to massively multi-parametric biological assays. Both are covered by company patents.