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Home Industry News Advanced Cell Diagnostics completes new round of funding

Advanced Cell Diagnostics completes new round of funding

24th June 2015

Advanced Cell Diagnostics has raised $22 million (13.99 million pounds) in series C equity financing to accelerate the commercialisation and launch of its new technology platforms.

The new round of funding was led by growth equity investor Summit Partners, with participation from Kenson Ventures and existing investors Morningside Ventures and New Leaf Venture Partners.

Proceeds from the financing will be used to accelerate the company's planned entry into the research and clinical diagnostics markets, while supporting the launch of new innovative platforms based on its proprietary RNAscope technology.

This patented platform is the first available that can enable robust single RNA molecule detection in routine formalin-fixed, paraffin-embedded clinical specimens.

Dr Yuling Luo, founder, president and chief executive officer of Advanced Cell Diagnostics, said: "The new funding will accelerate our pace of continued innovation and allow us to aggressively pursue our vision to bring RNAscope technologies to the forefront of precision medicine."

The firm received ISO 13485:2003 certification for RNAscope last year, as well as naming contract research organisation Aquila-Histoplex as its first accredited RNAscope-certified service provider in Europe.ADNFCR-8000103-ID-801792250-ADNFCR

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