Corporate Banner
Satellite Banner
Informatics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Labcyte Inc. Closes $5.3 Million Financing

Published: Thursday, January 10, 2013
Last Updated: Wednesday, January 09, 2013
Bookmark and Share
Privately-held company with products that advance acoustic liquid handling closes a Series D financing.

Labcyte Inc., a privately-held company advancing acoustic liquid handling, has announced it has closed a Series D financing led by the healthymagination fund, a part of GE Ventures. The $5.3 million round also included current Labcyte investors: Abingworth, Alloy Ventures, Cross Atlantic Partners, Delphi Ventures, H&Q Healthcare Investors (NYSE:HQH) and H&Q Life Sciences Investors (NYSE:HQL).

Labcyte will use the investment to continue to expand its revolutionary liquid handling systems based on the use of acoustic energy to precisely and accurately transfer liquids. Combined with its automation platforms and novel software capabilities, Labcyte’s award-winning products offer unsurpassed control over the steps that are the backbone of life science research, molecular medicine, drug discovery and diagnostic programs. Since acoustic dispensing transfers liquids without contact and eliminates the use of pipettes and their associated problems, data quality and reliability are significantly improved while costs are substantially reduced. The Labcyte system allows for the ability to transfer very low volumes of liquids, resulting in further cost savings by minimizing the use of reagents, while conserving precious samples. It also provides the capability to miniaturize assays and thereby increase productivity and through-put, enabling significant advances in a wide range of life science applications.

“Labcyte’s acoustic liquid handling products are well-established globally, with customers including pharmaceutical, biotechnology, diagnostic and contract research companies along with academic institutions. Our systems are being employed to further personalized medicine with multiple applications in genomics, proteomics, diagnostics and cell health,” said Mark Fischer-Colbrie, CEO and president of Labcyte. “Closing the funding will further enable us to add to our product lines and accelerate our growth.”

The investment in Labcyte reflects GE’s continuing interest in life science tools, medical diagnostics solutions and the growing area of personalized medicine. The healthymagination fund is the healthcare investing group of GE Ventures and part of GE’s $6 billion healthymagination initiative, a global commitment to deliver better health to more people.

”We are very pleased to add GE to our investor group,” said Fischer-Colbrie. “It’s a reflection of the high level of interest in the current broad-based and future uses of acoustic dispensing and the continued rapid adoption of products that can have a dramatic impact in life science.”

Rafael Torres, healthymagination fund leader, GE Ventures said, "Innovations and research platforms, like Labcyte, are vital to improving healthcare quality and affordability. We are excited to invest and support Labcyte, a company positioned to serve a rapidly growing market, as it expands the breadth of its product portfolio."


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,200+ scientific posters on ePosters
  • More than 4,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Labcyte and FIMM Announce a Collaboration Enabling “Real-Time” Science to Advance Personalized Medicine in Cancer Treatments
Collaboration expected to further the development of personalized medicine in cancer treatment.
Tuesday, January 08, 2013
Cancer Research Technology Selects the Labcyte Access™ Laboratory Workstation
Labcyte Access workstation to automate the production of assay-ready plates used in CRT's high-throughput cell based screening program
Monday, June 25, 2012
Scientific News
Making Metabolite Identification More Efficient
Metasense combines the industry's most-comprehensive metabolic transformation prediction with efficient analysis of LC/MS analytical measurements to identify, visualize, and report chemical biotransformations.
What Makes a Good Scientist?
It’s the journey, not just the destination that counts as a scientist when conducting research.
Applying Deep Learning to Drug Discovery
Researchers train deep neural networks to predict the therapeutic use of large number of multiple drugs using gene expression data obtained from high-throughput experiments on human cell lines.
Advancing Protein Visualization
Cryo-EM methods can determine structures of small proteins bound to potential drug candidates.
Gene Expression Controls Revealed
Researchers have modelled every atom in a key part of the process for switching on genes, revealing a whole new area for potential drug targets.
Making Genetic Data Easier to Search
Scripps team streamlines biomedical research by making genetic data easier to search.
Monovar Drills Down Into Cancer Genome
Rice, MD Anderson develop program to ID mutations in single cancer cells.
It’s Now Easier To Go With The Flow
Rice University tool simplifies comparison of flow cytometry data for laboratories.
Making Precision Medicine a Reality
Researchers are one step closer to understanding the genetic and biological basis of diseases like cancer, diabetes, Alzheimer’s and rheumatoid arthritis – and identifying new drug targets and therapies.
New Database for Sharing MS Clinical Trial Data
A new database containing nearly 2500 patient records from the placebo arms of nine multiple sclerosis (MS) clinical trials is now available for research by qualified investigators.
Scroll Up
Scroll Down
SELECTBIO

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,200+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!