Branford’s IsoPlexis scores another $20M
PHOTO | Courtesy IsoPlexis
IsoPlexis' IsoLight Platform
Branford medical technology startup IsoPlexis Corp., which developed a system that helps doctors predict how individual patients may respond to cancer treatments, said Thursday it had raised another $20 million.
The latest cash infusion comes on top of a $25 million venture capital raise last May, boosting the company’s total Series C funding to $45 million.
Northpond Ventures led the latest round, with participation from existing investors. IsoPlexis said it will use the cash to launch new products and broaden sales of existing products globally.
"We are looking forward to expanding our work with customers and building upon recent progress," IsoPlexis CEO Sean Mackay said in a statement.
Co-founded by Mackay in 2013 while he was still a student at Yale, the startup said it now has 130 employees across the U.S., Europe and Asia, with headquarters in Branford and Birmingham, England.
Its flagship products, IsoLight and IsoChip, allow researchers to analyze individual tumor cells and characterize them based on the proteins they secrete. Using the data, doctors can then make predictions about how a patient may respond to certain oncology drugs, and tailor treatment accordingly.
IsoPlexis says its technology captures dozens of secreted proteins, supplying doctors with more information than previously possible. The system was named the No. 1 life-science innovation of 2017 by The Scientist magazine.
“IsoPlexis is providing much-needed solutions to significant challenges in cancer immunology and engineered cellular therapy discovery and development,” said Sharon Kedar, co-founder and partner of Northpond Ventures. “We are excited to continue partnering with IsoPlexis on these efforts to transform personalized medicine.”
The company said it plans to launch new products in 2020 that address innate and myeloid function, tumor cell signaling and other high-need research areas.
Contact Natalie Missakian at news@newhavenbiz.com
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