- RareCyte, a rare cell analysis company, announced it has raised $22 million in funding led by HealthQuest Capital
RareCyte — a rare cell analysis company — announced it has raised $22 million from new and existing investors. This round of funding was led by HealthQuest Capital with participation from 5AM Ventures and RareCyte founder Ron Seubert.
With this round of funding, RareCyte plans to expand its platform globally. This platform includes the AccuCyte sample preparation system, RarePlex staining kits, CyteFinder instruments, and the CytePicker retrieval module. And RareCyte recently launched the CyteFinder II platform for tissue analysis.
“This funding will allow RareCyte to accelerate our global sales and marketing efforts, fund development of applications for our new tissue multiplexing platform, and release new liquid biopsy assays,” said RareCyte President and CEO Joe Victor.
HealthQuest Capital partner David Kabakoff is joining RareCyte’s board of directors in conjunction with the funding.
“RareCyte’s well-differentiated, integrated platform can be applied to both liquid biopsy and tissue samples and will enable next-generation precision medicine applications in numerous life sciences market segments,” added Kabakoff.
This funding round adds to the $30 million that RareCyte raised in a private financing round in 2017.
“RareCyte has validated its rare single-cell platform with research and biopharma customers for numerous liquid biopsy assays, and those products plus the recently released tissue applications will be a catalyst for future growth,” explained Andy Schwab, managing partner at 5AM Ventures.
