spacer
home > news > detailed info
INDUSTRY NEWS AND PRESS RELEASES

Sphere Fluidics Closes a $4.8 million USD (£3.7 million) Funding Round

Sphere Fluidics


• New funding of $2.9 million USD (£2.2 million) is in addition to the $2 million (£1.5 million GBP) investment (announced in January 2019), brings the total raised to $4.8 million USD (£3.7 million GBP)
• Lead investors were Greenwood Way Capital and 24Haymarket Limited
• Funding will be used to further expand operations in the UK and USA

Cambridge, UK, 10 June 2019: Sphere Fluidics, a company commercializing single cell analysis systems underpinned by its patented picodroplet technology, announced today that it has closed an additional tranche of investment of $2.9 million (£2.2 million), securing a total of $4.8 million (£3.7 million) in investment. The funding will be used as working capital for the Company’s Cyto-Mine® Single Cell Analysis System, expansion of the UK facility and enable the doubling of personnel through the opening of a new US Sales Office and Demo Lab in California.

The funding round was led by Greenwood Way Capital whose members, which included several international family offices, invested a total of $4.3 million (£3.3 million), alongside 24Haymarket Limited and other individual investors.

Sphere Fluidics’ Cyto-Mine® is an automated platform which integrates single cell screening, sorting, dispensing, imaging and clone verification. It can process up to 40 million cells per day and assesses and isolates those that produce a specific antibody or biologic to help streamline workflows and improve throughput in biologics discovery and cell line development.

Frank F Craig PhD MBA, CEO, Sphere Fluidics, commented: “We are delighted to raise this additional funding. Due to our over-subscribed investment round earlier this year, we decided to add on a second tranche to accommodate the additional interest. We are currently recruiting and looking at prospective new facilities in the UK and California to support the growth of our commercial and scientific activities.

Ian Leigh, Founder, Greenwood Way Capital commented: “We are very pleased to have been able to assist Sphere Fluidics once again and to have introduced them to suitable investors for their various funding stages. This was our fourth funding round with them. Our members range from high net worth individuals to large family offices which have enabled us to support the Company from its early stage investment rounds to the recent larger scale-up fundraising. It has been exciting to have worked with such a professional team developing such a unique technology.”

For more information about Sphere Fluidics, please visit: https://spherefluidics.com/

For further information please contact:

Sphere Fluidics
Dr Zoe Nilsson
Tel: +44 (0)1223 804200

Greenwood Way Capital
Mr Ian Leigh BSc MBA

24Haymarket Limited
Mr Paul Tselentis BA

Zyme Communications
Dr Michelle Ricketts
Tel: +44 (0)7789 053885

About Sphere Fluidicswww.spherefluidics.com
Sphere Fluidics develops and manufactures single cell analysis and monoclonality assurance systems for biologics discovery and cell line development. Sphere Fluidics’ Cyto-Mine® System integrates selective screening of tens of millions of single cells, sorting, dispensing, imaging and clone verification into a single automated platform to streamline workflows, reduce costs, improve throughput and enable high-value clones to be captured in a single run. Cyto-Mine® is underpinned by the Company’s patented, microfluidic picodroplet technology. Sphere Fluidics is located in Babraham, Cambridgeshire (UK) and Monmouth Junction, New Jersey (USA). The Company has also internationalized its business via a global network of distributors.

About Greenwood Way Capital www.gwc.london
Greenwood Way Capital is a network of investors, which include, funds, family offices and individuals, which invest in early stage companies. The investment opportunities are usually early-stage UK companies which have innovative ideas or unique disruptive technologies and are led by highly entrepreneurial management. Our deal size ranges from £500,000 to £5 million.

About 24Haymarket Limited www.24haymarket.com
24Haymarket Limited is a premium deal-by-deal investment platform focused on high-growth businesses, investing up to £5 million in any particular company. 24Haymarket’s Investor Network includes several highly experienced private equity and venture capital investors, seasoned entrepreneurs and senior operators. We invest our own capital in direct alignment with entrepreneurs and typically seek Board representation to actively support their growth agenda. Since its inception in 2011, 24Haymarket has invested in more than 50 high-growth businesses.
phone +44 1223 804200
email info@spherefluidics.com
web www.spherefluidics.com
email The Jonas Webb Building, Babraham Research Campus, Babraham, Cambridge CB22 3AT, United Kingdom
 
Print this page
Send to a friend
   
spacer
News and Press Releases

Turkish Cargo keeps growing in the first quarter of 2019

Maintaining its accomplished operations from Ataturk and Istanbul airports as "Dual Hub", the global brand of Turkish Cargo continued its strong growth momentum during the first quarter of the year despite the shrinkage of the global air cargo sector.
More info >>


White Papers

Faster, Better, Cheaper: Lean as a Driving Force Behind Pharmaceutical Companies’ Growth

TBM Consulting Group

The pharmaceutical industry faces countless challenges: patent expirations, weak product development pipelines, downward pricing pressure and an increasingly burdensome regulatory environment. The most important question for companies is now “How can we position ourselves optimally to be successful in the long term?” Some pharmaceutical companies used the economic downturn in 2009 to embrace measures in the fields of cost reduction and efficiency increases, which can be implemented at short notice. The continuous and consistent implementation of sustainable measures that guarantee stability and form the basis for future growth was not necessarily paramount within this.
More info >>

Industry Events

Nordic Life Science Days 10/12 September 2019

10-12 September 2019, Malmo Sweden

Nordic Life Science Days is the largest Nordic partnering conference for the global Life Science industry. Bringing together the best talents in Life Science, offering amazing networking and partnering opportunities, providing inputs and content on the most recent trends. Nordic Life Science Days attracts leading decision makers from the Life Science sector, not only from biotech, pharma and medtech but also from finances, research, policy and regulatory authorities.
More info >>

 
©2000-2011 Samedan Ltd.
Add to favourites

Print this page

Send to a friend
Privacy statement