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New participating investors accounted for approximately half of the investment and included 6 Dimensions Capital, a recent merger of WuXi Healthcare Ventures and Frontline BioVentures, Yonghua Capital, Sangel Capital, and Applied Ventures. Ultivue intends to use the new round of capital to productize and commercialize its InSituPlex™ technology for unbiased biomarker analysis in tissue, at a high level of multiplex with high spatial resolution. The initial commercial focus will be in translational and clinical research markets, with a rapid transition into regulated in vitro diagnostic markets.
New investor and Ultivue Director Leon Chen, 6 Dimensions Capital’s Chief Executive Officer, commented, “We are very pleased with our investment in such an innovation-driven company enabling personalized medicine, and we are dedicated to synergistically accelerate the adoption of Ultivue’s InSituPlex offerings into clinical diagnostics.” Keith Crandell, ARCH Ventures Partners’ Co-founder and Managing Director, said “the InSituPlex technology is now proven and game changing, and we are confident that Ultivue’s products will be quickly adopted as precision medicine reagents by the fast-growing tissue digital pathology market.”
Dr. Michael Natan, Ultivue’s Chief Executive Officer, “We have assembled an exceptional team to develop and commercialize InSituPlex technology for tissue sample analysis, and we are delighted to have the support of investors who share our commitment to offer disruptive solutions in health science. The launch of our first products later this year will comprise the first step of our long-term goal: to offer industry-leading diagnostic products that favorably impact patient care.”
Ultivue will present a scientific update of its recent InSituPlex technology developments, including automated workflow improvement and overall performance, at the 25th International Molecular Medicine Tri-Conference MMTC meeting conference in San Francisco, on February 12, 2018, in the Cancer Molecular Markers session.