Carterra Inc. (formerly Wasatch Microfluidics), a Salt Lake City, UT-based innovative label-free biosensor company, closed a $10M financing.
Telegraph Hill Partners (THP) made the investment.
The company intends to use the funds to complete development and commercialize its LSA™ instrument.
Founded in 2005 and led by Josh Eckman, CEO, Carterra is advancing LSA™, a fully automated, high-throughput monoclonal antibody (mAb) characterization platform which enables label-free binding experiments to be performed in a fast and efficient manner, allowing high-resolution data to be obtained early in the drug discovery process with minimal sample consumption.
Concurrent with the financing, the company has strengthened its Board of Directors with the addition of three seasoned life science executives:
- Alex Herzick, Vice President of Telegraph Hill Partners;
- John Lillig, Executive Chairman of Dynex Technologies and former CEO of NEXUS Biosystems; and
- Jack Ball, CEO of Solulink and previous Chief Commercial Officer of Accuri Cytometers.