Caldera Pharmaceuticals, and its subsidiary XRpro Corp, a Cambridge, MA-based provider of proprietary drug discovery services for high-throughput ion-channel inhibitor assays and enzyme activity assays, closed a of $3.17m financing.
The round was led by Taglich Brothers.
The company intends to use the funds to expand its scientific staff, purchase scientific instruments for the development and validation of additional assays and launch its marketing campaign.
Led by Gary Altman, President and CEO, Caldera Pharmaceuticals operates XRpro®, which provides drug discovery teams with screening services and assay development services.
The company offers several screens including the ability to determine real-time kinetics of ion channel activity in populations of intact cells in vitro, and the high-throughput screening of approximately 10,000 compounds per day with no modifications to either the drug candidate or the target.
The primary technology is based on label-free, high-throughput screening system that uses Molecular X-Ray Fluorescence™.