RareCyte, Inc., a Seattle, WA-based life sciences company, completed a $22M financing round.
The round was led by HealthQuest Capital, with participation from 5AM Ventures and company founder, Ron Seubert. In conjunction with the funding, David Kabakoff, PhD, Partner at HealthQuest Capital, joined the RareCyte Board of Directors. Andy Schwab, Managing Partner at 5AM Ventures also joined the RareCyte Board.
The company intends to use the funds to globally expand the sales of its instrument and consumables platform used in research and clinical markets, develop applications for its new tissue multiplexing platform, and release new liquid biopsy assays.
Led by Joe Victor, President and CEO, RareCyte offers fully integrated solutions for high resolution multiplex rare cell analysis of blood and tissue samples from preclinical through clinical and translational research enabling development of next generation precision medicines for numerous therapeutic areas including immuno-oncology.
The company’s platform which includes AccuCyte® Sample Preparation, RarePlex® Staining Kits, CyteFinder® Instruments, and the CytePicker® Retrieval Module, has been adopted by academic medical institutions and biopharma companies to gain a richer understanding of complex diseases, such as cancer.
Leveraging microscope slides as the substrate, the platform fits into clinical laboratory workflows and enables high-throughput processing of blood and tissue samples from clinical studies of all sizes. CyteFinder can analyze up to seven biomarker channels using immunofluorescent staining to facilitate deeper analysis of rare cell phenotypes.
The integrated CytePicker retrieves single cells of interest, allowing customers to build unique phenotype and genotype datasets at the single cell level to advance their research and clinical programs.