Labcyte Closes $5.3M Series D Financing
Labcyte, Inc., a Sunnyvale, California-based global biotechnology tools company, closed a $5.3m Series D financing.
The round was led by the healthymagination fund, a part of GE Ventures, and also included current investors Abingworth, Alloy Ventures, Cross Atlantic Partners, Delphi Ventures, H&Q Healthcare Investors (NYSE:HQH) and H&Q Life Sciences Investors (NYSE:HQL).
The company intends to use the capitalto to continue to expand its systems.
Led by Mark Fischer-Colbrie, CEO and president, Labcyte develops systems based on the use of acoustic energy to accurately transfer liquids without contact eliminating the use of pipettes. The company’s instruments are used worldwide throughout the pharmaceutical industry, biotechnology firms, contract research organizations and academic institutions. Customers work across a wide range of scientific research including drug discovery, genomics, proteomics, diagnostics, personalized medicine and imaging mass spectrometry.
Labcyte has 62 global patents, along with additional filings.