952 Ultivue announces $50M financing round

CAMBRIDGE, MA – Ultivue, a leader in advancing precision medicine solutions through a unique approach that combines multiplex biomarker analysis with same slide traditional H&E for tissue phenotyping, today announced the completion of a $50 million Series D round of financing. New investors include Ally Bridge Group, Pura Vida Investments and Tao Capital Partners. Previous venture investors in Ultivue who also participated in the financing include ARCH Ventures, Northpond Ventures and Applied Ventures, LLC.

This additional funding will help Ultivue strengthen its position in the market, deliver innovative solutions to address the dynamic nature of tumor biology from precious tissue samples and to provide researchers and pathologists with the ability to fully realize the potential of tissue biomarkers within digital pathology workflows.

Anna Yaeger, President and Portfolio Manager commented, “Ally Bridge Group is excited to be long term partners with Ultivue. We believe the company’s differentiated kit-based approach to multiplex immunofluorescence is well positioned to capitalize on the spatial biology revolution and creates maximum flexibility to support academic, biopharma, and CRO customers.”

“What Ultivue has is remarkably capable. They provide fast, accurate, previously unattainable multiplexed protein marker information at high resolution and on existing hardware. It is going to be exciting to see a well-resourced, well led Ultivue offer great capabilities to the biotech and pharma oncology community,” said Keith Crandell, Co-founder & Managing Director from ARCH Ventures.

“Ultivue is driving to make immunotherapy a reality for every patient that needs it with leading technology that enables advanced exploration and interrogation of tissue samples for precision medicine research. We’re proud to continue supporting the Ultivue team,” said Adam Wieschhaus, Ph.D., CFA, Director at Northpond Ventures.

“We’re excited to welcome our newest investors, and greatly appreciate the support from our existing investment partners,” says Jacques Corriveau, President and CEO of Ultivue. “This funding will allow us to expand our commercial efforts while also increasing the scope of our research and development in order to remain at the forefront of innovation and provide biological insights for our customers as they work to address the challenge of therapeutic response rates in patients using immunotherapy.”

Categories: News Tags: | Comments 949 Ultivue announces new executive team member

Richard is a seasoned financial professional with more than thirty years of experience in finance, accounting, internal audit, financial planning, and treasury roles. Richard was most recently the Vice President & Controller at Oxford Immunotec Global PLC a global diagnostic company, where he was responsible for the worldwide accounting, finance, and treasury functions during their initial public offering, three acquisitions, a divestiture and sale of the company. Prior to Oxford Immunotec, he held Controller and other senior financial roles at several medical device and high technology firms including Salient Surgical Technologies, Neurometrix, and Teradyne.

Richard holds an MS from the MIT Sloan School of Management and a BA in economics from Trinity College.

Richard joins Ultivue as the company completes its Series D round of funding and looks to strengthen its position as a market leader in multiplex immunofluorescence assays for digital pathology.

” This is a very exciting time to join the Ultivue team as we continue to accelerate our growth to support our customers as they solve complex therapeutic challenges.”

“Richard carries with him the epitome of professionalism and experience,” notes Jacques Corriveau, President and CEO at Ultivue. “These are crucial traits to have in a financial partner as Ultivue looks toward its future as a mainstay in the market.”

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