SISCAPA Assay Technologies Closes Series A Financing Round
News May 12, 2014
SISCAPA Assay Technologies, Inc. today announced that it closed a Series A equity financing round aimed at funding the company’s R&D efforts, expanding its catalog of assays, and driving its commercialization activities. The financing was led by the company’s angel investors and included a small number of new, private investors.
“Adoption of our technology by a growing number of clinical laboratories has provided strong validation of its value,” said Dr. Leigh Anderson, Founder and CSO at SISCAPA Assay Technologies. “We are now moving forward with our core mission to develop diagnostics products focused on wellness and chronic disease monitoring.” Anderson assumed the role of CSO recently when Gustavo Salem was appointed President and CEO.
The company has recently shown data on the use of its technology in measuring multiplexed protein panels in dried blood spots (DBS). These funds will allow the company to accelerate the clinical validation of DBS and longitudinal testing via SISCAPA panels as the preferred method for assessing wellness and monitoring chronic illness. “We are pleased that our investors see the promise of our technology and the market opportunity in diagnostics,” commented Gustavo Salem. “Our goal is to provide a better patient experience for the sampling and longitudinal testing of key protein biomarkers. Changing the paradigm to more frequent testing, at a lower cost, for the benefit of assessing changes in one’s personal baseline is the new model for improved health management.”
The company also noted that it is working with a number of commercial partners to release a line of kits and assays intended to provide greater access to the SISCAPA automated workflow. These new products, slated for introduction late this year, will help expand SAT’s footprint in the pharmaceutical and academic markets.
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