Cell Biosciences closes $10 Million in series C financing

Palo Alto: Cell Biosciences, a provider of nanoproteomic analysis systems to life science researchers, has announced the closing of a $10 million series C financing led by its largest shareholder, the Wellcome Trust. Existing investors Domain Associates, Latterell Venture Partners, Novo A/S, Mitsui Ventures, Royal Bank of Canada and The Vertical Group also participated in the financing.

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Tim Harkness, President and Chief Executive Officer of Cell Biosciences, said, "This investment should allow us to fully execute our plan to bring this revolutionary proteomics technology to the broad life sciences market."

The Cell Biosciences platform is an ultrasensitive nanofluidic immunoassay system designed to analyze proteins in extremely small biological samples. Researchers use our products to discover subtle details about phosphoprotein signaling in a wide variety of biological systems. Cell Biosciences has sold systems and established direct distribution organizations in North America and Europe. This month the company will launch its next generation protein analysis system, the CB1000, at the American Association for Cancer Research (AACR) Annual Meeting in Denver, Colorado.

"We continue to believe that the Cell Biosciences platform is an important enabling technology for biomarker discovery and ultimately can make a real difference in patient care," added Julie Eskay-Eagle, Cell Biosciences board member and the Head of Health Care Investments for the Wellcome Trust.