Genalyte Completed $11.8M Series B Financing
Genalyte, Inc., a San Diego, CA-based life sciences company developing and commercializing innovative next-generation multiplexing technology, has completed an $11.8m Series B financing.
Backers include new investors Redmile Group and Claremont Creek Ventures, among others.
The company intends to use the new funds for commercialization of its Maverick™ platform and its highly multiplexed panels for autoimmune and immunoassay applications.
Founded in 2007 and led by CEO and founder Cary Gunn, Genalyte has developed a new approach to immunodetection using silicon chip manufacturing methods. Its Maverick platform uses a technology called silicon photonics to directly measure protein binding between antibodies and antigens or hybridization of nucleic acids.
The company is preparing to launch the platform this summer, initially addressing the autoimmunity research and testing markets.