Alamar Biosciences, a Fremont, CA-based precision proteomics company, raised $100M in Series C funding, with the second close of an additional $28M expected to happen within the next 30 days.
The round, which brought the total amount to $250M, was led by Sands Capital and included participation from new financial and strategic investors as well as existing investors. Concurrent with the financing, Ian Ratcliffe, Executive Managing Partner of Sands Capital, has joined the Company’s Board of Directors.
The company intends to use the funds to grow the commercial and customer support teams, drive market adoption, and expand the product line.
Led by Dr. Yuling Luo, Founder and CEO, Alamar Biosciences is a life sciences company with a mission to empower precision proteomics to enable the earliest detection of disease. Earlier this year, the company announced the commercial launch of the ARGO™ HT System and the NULISAseq™ Inflammation Panel 250 for deep profiling of immune response. Alamar’s NULISA technology utilizes a novel sequential capture and release method to purify the immune complex, improving signal-to-noise by more than 10,000-fold. It also provides corresponding increases in sensitivity and dynamic range in comparison with traditional immunoassay approaches. The ARGO HT System provides an automated method for running NULISA assays with less than 30 minutes of total hands-on time. With qPCR and NGS readouts, the NULISA platform enables both focused analysis of validated biomarkers and highly multiplexed profiling of hundreds to ultimately thousands of proteins.
Commenting on the news, Yuling Luo said: “Our proprietary NULISA™ technology has demonstrated superior performance and a unique combination of capabilities that will enable our customers to accelerate biomarker discovery and the development of non-invasive tests for diseases with high unmet need. With this funding, we are now well positioned to power precision proteomics through accelerated commercialization.”
FinSMEs
27/02/2024