KIYATEC Inc., a Pendleton, SC-based life sciences company, has held the initial close of its Series A funding.
The round, whose amount was not revealed, was led by Nexus Medical & Technology Capital and Greenville, SC-based Upstate Carolina Angel Network, with participation from private investors.
Contingent with this close, SC Launch and other debt investors now have equity positions in the company, which intends to use the funds to advance two 3D cell-based assays for more predictive evaluation of cancer efficacy and certain kinds of liver toxicity for drug and biologic candidates.
Led by CEO Matt Gevaert, KIYATEC has already brought its cell-based assay 3DKUBE™ to market. The company’s contract service arm also currently provides cell-based testing services to medical device companies looking for more relevant characterization of cell-material interactions for regulatory applications, quality control or product development.