RareCyte secures $20M financing to expand the Orion™ Spatial Biology platform including Multiplex Assay Reagents, Software and Precision Biology Services
SEATTLE, June 27, 2024 /PRNewswire/ — RareCyte, Inc. (“RareCyte” or “the Company”) a Life Sciences company providing advanced Precision Biology platforms including instruments, reagents, software, and services announced today the completion of a $20M financing from new and existing investors. The funding is expected to enable the Company to drive an expansion of the successful Orion Spatial Biology platform including commercializing new multiplex assays, reagent products, and software applications. The funding is also expected to support expansion of RareCyte’s Precision Biology Services including spatial biology and liquid biopsy assays utilizing its Seattle, WA-based labs and scientific personnel performed under CLIA and ISO 13485 certifications. Global commercial expansion in regions outside the US will be amplified by the new funding.
New investor Forest Road joined existing investors Arboretum Ventures and F-Prime Capital (which co-led the round) and investors HealthQuest Capital, 5AM Ventures, Agilent Technologies, Company founder Ron Seubert, Sheatree capital, and GKCC LLC. Bill Burkoth, Managing Partner for Life Sciences at Forest Road commented, “we are thrilled to join a world-class group of investors and partner with the RareCyte team to drive towards realizing the promise of Precision Biology for researchers and patients”.
“We are honored to have Forest Road join an outstanding group of investors led by Arboretum Ventures and F-Prime Capital.” said Joe Victor, RareCyte President and CEO. “This funding will allow RareCyte to accelerate the development of our broad menu of Spatial Biology assays, applications, and software products to benefit our customers worldwide”.
The RareCyte Orion platform has been adopted and recognized worldwide as the only spatial biology platform that addresses the translational market requirements from discovery applications to clinical trial support. Orion enables rapid sub-cellular scanning and analysis of tissue and blood samples for up to 20 biomarkers with turn-around times that will support large cohort studies. Exquisite sensitivity and a broad dynamic range support comprehensive cellular phenotyping utilized by researchers and drug developers to determine mechanism of action for candidate therapeutics. The Orion platform includes a broad array of validated biomarkers allowing immediate access by researchers and clinicians to advance studies across immuno-oncology, immunology, neurology, infectious disease, and other critical disease areas.
About RareCyte, Inc.
RareCyte is an innovative Precision Biology company that designs, manufactures, and markets worldwide end-to-end integrated platforms enabling advances in discovery, translational and future clinical markets. As a leading Life Sciences company, our team of scientists and engineers are dedicated to design products and provide services which advance precision medicine and biomedical research, ensure successful clinical development programs, and contribute to companion diagnostic development. For more information on RareCyte visit rarecyte.com or connect on LinkedIn at www.linkedin.com/company/rarecyte/ and X at twitter.com/RareCyte. For Research Use Only, not for use in diagnostic procedures.
Media Contact: media@rarecyte.com
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SOURCE RareCyte, Inc.
