Spear Bio Inc., an innovative biotechnology company specializing in ultra-sensitive protein detection, has successfully closed an oversubscribed $45 million Series A financing round. The investment was co-led by Foresite Capital and Bio-Techne Corporation, with additional support from Maverick Ventures, Yonjin Capital, and CDH Investments. Vikram Bajaj, Managing Director at Foresite Capital, will join Spear Bio’s Board of Directors as part of this funding round.
Spear Bio’s groundbreaking Successive Proximity Extension Amplification Reaction (SPEAR) technology utilizes standard qPCR equipment to measure protein biomarkers with unprecedented sensitivity. This approach allows for detection at attomolar levels from less than a microliter of sample—100 times smaller than traditional immunoassay volumes. The technology’s three-step, wash-free workflow simplifies the process, enhancing both precision and accessibility.
Dr. Feng Xuan, Co-Founder and CEO of Spear Bio, expressed gratitude for the robust investor support: “We are thrilled to partner with Foresite Capital and Bio-Techne, whose endorsement highlights the transformative potential of our SPEAR technology. This funding will significantly accelerate our assay development and commercial expansion, addressing critical challenges in protein research and early disease diagnostics.”
Dr. Vikram Bajaj of Foresite Capital added, “Spear Bio’s SPEAR technology is poised to make substantial advancements in neurodegenerative disease research and diagnostics. Its ability to provide scalable, high-sensitivity measurements will be a game-changer in detecting low-abundance protein biomarkers.”
Kim Kelderman, President and CEO of Bio-Techne, highlighted the unique advantages of Spear Bio’s technology: “Spear Bio’s solution offers unparalleled sensitivity compared to traditional methods. This innovation opens doors to challenging applications, including the early detection of neurodegenerative diseases. Moreover, the use of standard qPCR equipment ensures broad applicability across research and clinical settings.”
Spear Bio will showcase its technology and applications for neurology at the Alzheimer’s Association International Conference (AAIC) in Philadelphia, from July 28 to August 1, at Booth #740 and during Poster Presentation #279 on July 31.
Editorial Opinion:
Spear Bio’s latest funding round marks a significant leap forward for the biotechnology industry, particularly in the realm of protein research and diagnostics. The company’s ability to achieve such sensitivity with minimal sample volumes positions it as a leader in the field, promising to overcome limitations of current diagnostic technologies.
The strategic investment from Foresite Capital and Bio-Techne underscores the growing recognition of Spear Bio’s potential to revolutionize protein measurement. By leveraging standard qPCR tools, Spear Bio not only enhances research capabilities but also accelerates clinical diagnostics, particularly for diseases with complex biomarker profiles. With its technology poised to impact various high-growth markets, Spear Bio is well-positioned to drive significant advancements in early disease detection and research efficiency.
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