RESEARCH TRIANGLE PARK – Durham-based Cell Microsystems has received $ 10 million in funding from life sciences and venture capital firm Telegraph Hill Partners.
The company will use the funding to accelerate business activity, develop new products and expand characterization and isolation of single cells on its CellRaft platforms.
The investment also paves the way for new hires in engineering, software systems, product applications, manufacturing, customer support and sales roles.
“Our company was looking for a significant investment and a partner who would provide us with strategic advice to grow our business,” said CEO Gary Pace. “We found both with Telegraph Hill Partners.”
The company’s CellRaft AIR system and CytoSort consumables enable multiple discovery and development applications in a range of single-cell methodologies, including single-cell isolation, CRISPR gene editing, clonal propagation, and follow-and-trace programming. “.
Nancy Albritton developed the CellRaft technology at this North Carolina university in Chapel Hill. Albritton, along with Chris Sims and Yuli Wang, brought Cell Microsystems out of college in 2010 to commercialize product applications for the technology. The first prototype system hit the market in 2017.
The North Carolina Biotechnology Center granted the company a loan of $ 30,000 in 2012, two loans of $ 250,000 (one in 2018 and the other in 2020) and a grant of $ 3,000 for an industrial intern in 2013 .
In addition to support from NCBiotech and Telegraph Hill Partners, Cell Microsystems has received funding from Carolina Kickstart, Kickstart Innovation Fellowship, NIH Small Business Innovation Research Grants, NC Department of Commerce and NC IDEA.