RareCyte, Inc., a pioneering Life Sciences company renowned for its Precision Biology platforms, has announced the successful completion of a $20 million financing round aimed at bolstering its Orion™ Spatial Biology platform. This funding, sourced from a blend of new and existing investors, including Forest Road, Arboretum Ventures, and F-Prime Capital, underscores RareCyte’s commitment to advancing biomedical research through innovative instruments, reagents, software, and services.
Based in Seattle, RareCyte plans to utilize the capital infusion to accelerate the commercialization of new multiplex assays, reagent products, and software applications within its Orion platform. This expansion will be pivotal in enhancing RareCyte’s Precision Biology Services, which include spatial biology and liquid biopsy assays conducted at its CLIA and ISO 13485 certified labs. Moreover, the funding will support global market expansion efforts beyond the United States.
Forest Road’s Managing Partner for Life Sciences, Bill Burkoth, expressed enthusiasm about joining RareCyte’s esteemed group of investors, highlighting their shared vision to advance Precision Biology for both researchers and patients. Joseph Victor, President and CEO of RareCyte, emphasized the significance of this funding round in propelling the company’s mission to provide cutting-edge solutions worldwide.
RareCyte’s Orion platform has gained global recognition for its ability to deliver rapid sub-cellular scanning and analysis of tissue and blood samples, enabling researchers and clinicians to analyze up to 20 biomarkers with unparalleled sensitivity and accuracy. This capability is pivotal in supporting diverse studies across immuno-oncology, immunology, neurology, infectious disease, and other critical fields.
Editorial Opinion: Fueling Innovation in Precision Biology
RareCyte’s recent $20 million financing round represents a strategic investment in advancing Precision Biology, positioning the company at the forefront of innovation in biomedical research. By expanding its Orion Spatial Biology platform and Precision Biology Services, RareCyte not only enhances its technological capabilities but also reinforces its commitment to transforming how diseases are understood and treated.
In an era where personalized medicine and targeted therapies are gaining prominence, RareCyte’s solutions offer invaluable tools for researchers and clinicians alike. The Orion platform’s ability to conduct comprehensive cellular phenotyping with rapid turnaround times is particularly advantageous for large cohort studies and clinical trial support, accelerating the development of new therapies and diagnostic tools.
As RareCyte expands its global footprint and broadens its menu of validated biomarkers, it is poised to make significant strides in addressing unmet medical needs across various disease areas. This funding not only supports RareCyte’s growth trajectory but also signifies a step forward in realizing the full potential of Precision Biology to impact healthcare outcomes worldwide.
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