Cell Biosciences Closes $10 Million Series C Financing
Palo Alto, CA, April 9, 2009 - Cell Biosciences, a provider of nanoproteomic analysis systems to life science researchers, today announced the closing of a $10 million Series C financing led by its largest shareholder, the Wellcome Trust. Existing investors Domain Associates, Latterell Venture Partners, Novo A/S, Mitsui Ventures, Royal Bank of Canada and The Vertical Group also participated in the financing.
"We are very happy to announce this financing in the current economic environment and we believe it represents a strong vote of confidence by our investors in the potential of the technology and team at Cell Biosciences," said Tim Harkness, President and Chief Executive Officer of Cell Biosciences. "This investment should allow us to fully execute our plan to bring this revolutionary proteomics technology to the broad life sciences market."
The Cell Biosciences platform is an ultrasensitive nanofluidic immunoassay system designed to analyze proteins in extremely small biological samples. Researchers use our products to discover subtle details about phosphoprotein signaling in a wide variety of biological systems. Cell Biosciences has sold systems and established direct distribution organizations in North America and Europe. This month the company will launch its next generation protein analysis system, the CB1000, at the American Association for Cancer Research (AACR) Annual Meeting in Denver, Colorado.
"We continue to believe that the Cell Biosciences platform is an important enabling technology for biomarker discovery and ultimately can make a real difference in patient care," added Julie Eskay-Eagle, Cell Biosciences board member and the Head of Health Care Investments for the Wellcome Trust.
About Cell Biosciences
Cell Biosciences is a private life sciences company focused on nanoproteomics. We develop instrumentation systems, software, and assay products that reveal previously undetectable information about cellular control pathways. Our customers include leading institutions in the fields of cancer research, stem cell biology, and diabetes. Our products enable researchers to uncover fundamental mechanisms controlling cell proliferation and cell death, to accelerate the development of new therapeutics, and to help identify new prognostic and diagnostic disease biomarkers. Cell Biosciences is located in Palo Alto, California. For more information, visit www.cellbiosciences.com.
CONTACT: Jason Novi, Chief Financial Officer, Cell Biosciences, Inc., +1-650-618-7502, jnovi@cellbiosciences.com.