A Cambridge life sciences company that has developed a revolutionary system for single-cell analysis in the biopharmaceutical market, with support from Innovate UK, has secured private investment totalling $7 million.
Sphere Fluidics Ltd’s Cyto-Mine® device promises to transform the discovery and development of biotherapeutics for treatment of cancer and inflammatory diseases and vaccine generation.
The company, based at the Babraham Research Campus in Cambridge, plans to launch a commercial version of Cyto-Mine® later this year.
The funding round was led by an Asian corporate investor but included existing angel investors and funds such as 24Haymarket, Parkwalk Advisors and London Business Angels. A number of leading biopharmaceutical companies are also helping to fund development of the device.
Sphere Fluidics benefited in 2015 from Innovate UK funding for a feasibility study and a follow-on collaborative R&D project, together totalling £310,000