Spear Bio, a Woburn, MA-based Harvard University biotech spin-off developing scalable solutions for ultrasensitive detection of protein biomarkers, raised tens of millions of US dollars in Seed funding.
The round was led by CDH Investments, with additional investments from earlier investors such as Maverick Ventures and YongHua Capital.
The company intends to use the funds to expand operations and its business reach.
Co-founded in March 2021 as a spin-off from Harvard University’s Wyss Institute by Professor Peng Yin and Dr. Feng Xuan, Spear Bio is developing an ultrasensitive immunodiagnostics and proteomics platform. Based on technology its founders developed and licensed from Harvard University: the Successive Proximity Extension Amplification Reaction (SPEAR), it allows the detection of single digit counts of protein molecules in tiny sample volumes, down to a tenth of a microliter. Whether measuring low abundance biomarkers with microsampling techniques or carrying out a multitude of tests on precious samples with limited volumes, it can become a solution for both research applications and minimally invasive diagnostics.
Spear Bio has launched NAB-Sure™, its first assay and commercial proof-of-concept, for ultrasensitive quantification of SARS-Cov-2 neutralizing antibodies from challenging samples such as finger-stick dried blood spot (DBS) and nasal swabs. During the pandemic, NAB-Sure has been validated and adopted in major labs, enabling precise tracking of immunity, vaccine response, and COVID-19 sero-surveillance. Spear Bio is now focused on bringing to market ultrasensitive immunoassays for areas such as neurology, immunology, and oncology.
FinSMEs
30/11/2023