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
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 2,500+ scientific posters on ePosters
  • More than 3,700+ 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
Searching Big Data Faster
Theoretical analysis could expand applications of accelerated searching in biology, other fields.
Imaging Software Could Speed Breast Cancer Diagnosis
Technology could improve access to diagnostic services in developing countries.
Data Mining DNA For Polycystic Ovary Syndrome Genes
A new Northwestern Medicine genome-wide association study of PCOS – the first of its kind to focus on women of European ancestry – has provided important new insights into the underlying biology of the disorder.
Firefly Protein Enables Visualization of Roots in Soil
A new imaging tool from a team led by Carnegie’s José Dinneny allows researchers to study the dynamic growth of root systems in soil, and to uncover the molecular signaling pathways that control such growth.
UEA Research Could Help Build Computers From DNA
New research from the University of East Anglia could one day help build computers from DNA.
Viral Comparisons
ORNL team applies genomics expertise to analyze, map virus sequence database.
Preserving Fleeting Digital Information with DNA
A team has demonstrated that DNA they encapsulated can preserve information for at least 2,000 years, and they’re now working on a filing system to make it easier to navigate.
TGAC Leads Development to Diminish Threat to Vietnam’s Most Important Crop
Advanced bioinformatics capabilities for next-generation rice genomics in Vietnam to aid precision breeding.
Mass Extinctions Can Accelerate Evolution
A computer science team at The University of Texas at Austin has found that robots evolve more quickly and efficiently after a virtual mass extinction modeled after real-life disasters such as the one that killed off the dinosaurs.
Furthering Data Analysis of Next-gen Sequencing to Facilitate Research
Researchers at Cincinnati Children's Hospital Medical Center have developed a user-friendly, integrated platform for analyzing the transcriptomic and epigenomic "big data.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
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
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!