LumaCyte, an advanced bioanalytical instrumentation leader for rapid label-free cellular analytics, announced the closing of a B series financing that will further accelerate growth in the company’s automated bioproduction analytics solutions and expand its global infrastructure to meet growing demand. The financing was led by Malvern Panalytical, an international leader in advanced scientific instrumentation supporting the discovery, development and manufacturing of pharmaceuticals and biopharmaceuticals.
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“We also saw the strong cultural alignment between our organizations, built on driving technical innovation and excellence, and delivering superior product quality and service.”
Amidst a consolidating and capital-constrained market, LumaCyte experienced tremendous interest from the investment community and ultimately aligned with Malvern Panalytical. “It was very clear that the Malvern Panalytical team were the ideal growth partner due to their strong industry expertise, relevant existing solution portfolio and global footprint,” says Dr. Sean Hart, LumaCyte CEO and CSO. “We also saw the strong cultural alignment between our organizations, built on driving technical innovation and excellence, and delivering superior product quality and service.”
LumaCyte’s advanced real-time bioanalytics platform, Radiance®, is a label-free, single cell approach for quantitative characterization of innate cellular responses, without the need for antibody or genetic labeling. Utilizing the revolutionary technology, Laser Force Cytology™ (LFC), LumaCyte’s Radiance® platform instrument measures subtle phenotypic changes which occur in cells in response to their environment or treatment. These novel insights allow developers and manufacturers to measure real-time product quality attributes that enable the rapid optimization of critical bioprocesses, significantly improving production consistency, product yields, and shelf life.
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Renee Hart, LumaCyte President and CBO, also highlighted the importance of finding an investment partner with deep life science analytical instrumentation expertise. “Having a partner that clearly understands the importance of real-time cell-based precision analytics as well as the increasing need for this data across both process development and continuous production monitoring assays for advanced therapies was a very important factor in our decision to partner with Malvern Panalytical.”
In connection with the financing, LumaCyte will add Mark Fleiner, President, Malvern Panalytical, to its Board of Directors. Mark has an impressive track record of global leadership across very complex manufacturing sectors, with previous roles at GE, LG, and Rolls-Royce. “I could not be more excited about supporting LumaCyte and the strong growth trajectory they have ahead. It is rare to find companies that have pioneered new analytical science and brought it to market. The cellular analytics generated by LumaCyte’s Laser Force Cytology™ are a vital component to the successful biomanufacturing of lifesaving cell therapies, gene therapies and vaccines,” Mark commented. Laser Force Cytology™ has gained much traction in the last 12 months as regulators encourage the adoption of real-time precision analytics earlier in production processes to make strides toward safer, faster, and more accessible therapies.
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