Microlytic Expands Activities with New VC Investment
News Mar 19, 2012
“Microlytic has the potential to revolutionize the process of protein crystallization by offering tools that significantly enhance success rates in crystallization, which is much needed in the industry, without requiring investments in new robotics or analysis equipment ,“ says Jesper Roested Investment Director from Vaekstfonden and Microlytic’s new Chairman of the Board.
Microlytic’s primary products are currently the Crystal Former, an innovative microfluidic device for crystallizing proteins, and the MCSG Screens, a specialized set of crystallization reagents, that greatly enhance crystallization success rates and increase the productivity of protein crystallization laboratories. Already over 100 protein structures have been solved using Microlytic products.
Founder and CEO of Microlytic, Morten Sommer says: “The commercial expansion allowed by the recent funding will enable us to continue the rapid growth of the company, accelerate innovative product development and establish Microlytic’s products as standard used tools in the industry, over the next several years. It will also allow us to nurture our relationships with leading pharmaceutical companies and academic research centers around the world as we continue to innovate structural biology.
In keeping with the company’s mission statement, new offerings will aim to increase productivity and will offer attractive value propositions to enhance even the most rigorous of academic and industrial workflows.
Driving the growth of Microlytic is Tom Bishop, Vice President of Commercial Operations. Tom Bishop has over 20 years of experience in Life Sciences, and has held sales, marketing, and commercial operations roles at Exiqon, Invitrogen, Applied Biosystems, and Ambion.
This new round of funding was provided by the Danish investment companies CAT Science Park and Vaekstfonden. Both companies boast strong histories in supporting the translation of research ideas into highly successful commercial ventures.