LUMICKS, a, next-generation life science tools company that develops highly innovative platforms for Dynamic Single-Molecule and Cell Avidity analysis, has completed a USD93 million Series D preferred share financing.
The funding round was led by new investors Farallon Capital Management and Lauxera Capital Partners, and included investments by Softbank Vision 2, funds and accounts advised by T Rowe Price Associates, Parian Global Management, Pura Vida Investments, and Irving Investors. The round was also backed by existing investor Gilde Healthcare and select members of the LUMICKS management team. A majority of the proceeds from the financing will be used to bolster growth initiatives including expansion of both research and development and commercial activities for the z-Movi Cell Avidity Analyzer.
“We are ecstatic to receive an investment from such an impressive group of investors that is excited to support us for our next phase of growth,” says Olivier Heyning, CEO of LUMICKS. “The new investors are a wonderful complement to our existing investor base and bring an outstanding amount of industry knowledge that we believe will result in an incredibly positive partnership. With this fundraising, we believe LUMICKS is well positioned to drive significant growth of our Dynamic Single-Molecule platform and further accelerate the commercial adoption of the industry-changing z-Movi solution.”
“We believe LUMICKS’ z-Movi Cell Avidity Analyzer for direct, high-resolution measurement of cell avidity is a revolutionary platform that can accelerate translational R&D across institutions and biopharma,” says Alex Slack, Co-Founder of Lauxera Capital Partners. “The z-Movi solution has the potential to drive remarkable advances in cancer treatment. It builds on LUMICKS’ rapid innovation, anchored by its Dynamic Single-Molecule franchise that is expanding access to and use cases for single molecule force measurement.”
Read more/Source: Private Equity Wire
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