On June 10, local time in the UK, biotech company Sphere Fluidics completed $4.8 million in financing. This round of financing will serve as the working capital of the company’s Cyto-Mine single-cell analysis platform, expand the market size of its products in the UK, and increase the number of employees by opening new sales offices and demonstration laboratories in California.
It is reported that this round of financing was led by Greenwood Way Capital, 24 Haymarket followed.
Founded in 2010 and headquartered in Cambridge, UK, Sphere Fluidics is a biotechnology company dedicated to the development of single cell analytics.
Cells are an important part of the body’s production of various nutrients. Most diseases are caused by abnormal cell functions and cannot produce the substances required by the human body. Cell research is of great significance for medical diagnosis, but the cell size is small and is relatively fragile after being isolated. How to efficiently study cell properties on the basis of maintaining cell activity is the focus of the industry.
Cyto-Mine, the main product of Sphere Fluidics, is an automated platform that combines single cell screening, sorting, dispensing, imaging and cloning validation. It processes up to 40 million cells per day by evaluating and isolating cells that produce specific antibodies or substances to help streamline workflows, increase biologic discovery efficiency, and throughput in cell line development.
The above functions are achieved through the company’s proprietary microfluidics technology. This technology allows ultra-high throughput analysis of isolated cells in miniaturized (pL to nL) droplets. The Cyto-Mine platform uses microfluidic technology to achieve faster, lower cost and more efficient sample screening and biodiscovery targets. At present, the Cyto-Mine platform can be used in many fields, such as antibody discovery, cell line development, synthetic biology, single cell diagnosis and prediction. The company is also working to apply the technology to key areas such as precise genome editing and cell therapy.
Sphere Fluidics CEO Frank F. Craig said: “We are very pleased to be able to raise this funding, which will support us to continue to develop our business and advance the development of single cell analytical equipment.”
Ian Leigh, founder of Greenwood Way Capital, said: “We are very excited to invest in Sphere Fluidics again and introduce them to new investors. Single cell analysis is a new technology and we look forward to its use in more biological fields. Work with Sphere Fluidics to create new shareholder value.”