San Diego-based Genalyte has closed an $11.8 million Series B round of financing to advance its Maverick platform and multiplexed panels for autoimmune and immunoassay applications. The company anticipates launching Maverick this summer.
New investors Redmile Group and Claremont Creek Ventures jointed private investors from the company's Series A round.
The bold young company has developed what it calls an entirely new approach to immunodetection through silicon chip manufacturing methods. Its Maverick system includes microring sensors constructed from silicon photonics technology. The tech can simultaneously analyze multiple proteins from a single small sample, and the assays do not require the washes, incubations, reagents or other processing steps associated with sample preparation. The upshot: Results are available quickly--in as little as 15 minutes.
"By applying advances in silicon photonics to the life sciences, we have been able to develop a completely new approach to biological detection that provides major advantages to researchers and, eventually, to clinicians," commented Genalyte CEO and founder Cary Gunn.
According to its website, Genalyte is seeking partnerships in a variety of arenas, including infectious diseases, molecular diagnostics, immunoassay and veterinary medicine, among others. In fact, earlier this year, it announced with Belgium's Imec the successful production of a set of disposable silicon photonics biosensor chips to be used in Genalyte diagnostic and molecular detection equipment.
- check out the Genalyte release
BiO2 snaps up $13.7M in Series B
ViewRay closes $45M Series C
LensAR raises $24M to back laser system