Seahorse Bioscience, Inc., a Billerica, MA-based company focused on enhancing drug discovery efforts in cancer and aging, has closed a $5m Series D financing round.
Investors in round included Commonwealth Capital Ventures, FLIR Systems Inc, Rock Maple Ventures, Life Sciences Partners, Oxford Bioscience Partners, Healthcare Ventures, New Science Ventures and HLM Venture Partners.
The proceeds will be used to fund expansion of domestic and international sales and marketing activities and to increase manufacturing capacity of Seahorse’s XF series of instruments for measuring cell metabolism.
Introduced in 2006, Seahorse XF analyzers measure the two energy pathways of the cell in a microplate, enabling scientists to generate a comprehensive picture of cellular bioenergetics in real-time. Cellular bioenergetics – the processes by which cells produce and consume energy – is fundamental to the growth, development, function and metabolism of cells.
Commenting on the round, Seahorse CEO Jay Teich, was reported to say: “This investment is a milestone for Seahorse. It is enabling us to aggressively grow our sales efforts and our manufacturing capability.
“We will use the funds to double our worldwide sales coverage and will be hiring at our manufacturing plant in Chicopee, MA, ensuring that we keep pace with market demand for our XF system”.
Founded in 2001, the company also operates a European sales office in Copenhagen, Denmark.