UK-based Fluidic Analytics has raised $31m in the latest round of financing led by European venture capital fund Draper Esprit.
Other major investors include IQ Capital, Delin Ventures, the Business Growth Fund, as well as Amadeus Partners, which is an investment vehicle of Acorn Computers co-founder Hermann Hauser.
Founded by professor Tuomas Knowles, Fluidic Analytics has developed technology to study the protein signature of cells.
The company has stated that a greater understanding of proteins and their behaviour could help doctors make improved decisions when diagnosing diseases.
More information about protein characterisation will help identify the right treatment for patients.
DNA provides clues about what could happen over a lifetime, while proteins and their behaviour assist in understanding things in real-time, according to Fluidic Analytics.
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The company is looking to continue the development of its products for characterising proteins and their behaviour.
Funding will be directed towards the commercial roll-out of the company’s lab-tools pipeline. A portion of the financing will be used to develop further high-value clinical applications of its technology.
Fluidic Analytics CEO Andrew Lynn said: “This financing will power the global commercial launch of our Fluidity One system and enable our team to bring our next two lab-tools products to market.
“It will also allow us to advance a number of high-potential clinical applications that could help us make an even bigger impact on the world.”
The company is developing its products based on a new technology platform from the University of Cambridge. This platform provides customers access to quantitative insights into protein behaviour.
Draper Esprit partner Vishal Gulati said: “The world needs transformational technologies that can help us to understand the full picture of how biology unfolds in daily life.”
The company’s products are expected to enable researchers to understand the mechanisms underlying conditions such as Alzheimer’s disease.