RareCyte, (“RareCyte” or “the Company”) a life sciences company creating liquid and tissue biopsy analysis platforms with emphasis on rare cell detection announced the completion of a $22M financing from new and existing investors. The funding will drive a global sales expansion for its instrument and consumables platform used in research and clinical markets. The $22M investment was led by HealthQuest Capital, with participation from 5AM Ventures and company founder, Ron Seubert.
The Company recently broadened product offerings to include the CyteFinder II platform that includes whole slide high-parameter tissue analysis in addition to its foundational liquid biopsy applications. This technology now enables high resolution tissue multiplexing for diverse applications driven by growth in translational research fields, particularly immuno-oncology.
“We are excited to have HealthQuest Capital this new funding; their team’s healthcare expertise and ecosystem will be a valuable addition to our active and supportive investors. 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 Joe Victor, RareCyte President and CEO.
David Kabakoff, PhD, Partner at HealthQuest Capital and veteran of the life sciences industry has joined the RareCyte Board of Directors and commented, “HealthQuest Capital is committed to helping transformative healthcare companies like RareCyte grow. 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.”
Andy Schwab, Managing Partner at 5AM Ventures also joined the RareCyte Board and added, “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. The company is poised to scale, and we are very pleased to have HealthQuest Capital join the investor syndicate.”
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