ApoCell, Inc., a molecular diagnostics laboratory that analyzes the effectiveness of new compounds for the world’s leading pharmaceutical and biotechnology companies, received equity financing from Summit Partners.
The proceeds will be used to fund the company’s growth initiatives and development of its technology platforms.
Commenting on the funding, Dr. Darren Davis, ApoCell’s CEO, said: “The decision to raise outside capital was an important and strategic move for ApoCell, and we believe Summit will assist us in achieving even greater results.
“With Summit’s strategic guidance and global network of contacts, we are now uniquely positioned to rapidly expand ApoCell’s offering and provide even more valuable service to our customers”.
Houston, Texas-based ApoCell was founded in 2004 by Dr. Davis to commercialize biomarker technologies, some of which were developed at the University of Texas M.D. Anderson Cancer Center. The company spun out in 2005 and today leverages expertise in the areas of oncology, diabetes, molecular diagnostics and drug development to measure biomarker signatures in clinical trial subjects.