Ultivue Raises $22 Million in Series C Funding
CAMBRIDGE, Mass, June 27, 2019 – Ultivue, the innovation leader in tissue biomarker identification and quantification assays for translational and pathology research labs, today announced the close of a $22 Million Series C funding led by new investor Northpond Ventures and fueled by existing investors including ARCH Venture Partners, 6 Dimensions Capital, Yonghua Capital, and Applied Ventures. The investment will be used to further extend Ultivue’s leadership position primarily through the expansion of its portfolio of UltiMapper™ kits with an increasing level of product customization. Ultivue will also significantly accelerate its international market presence with increased investments in sales, field application scientists and marketing across all regions with an immediate focus on Asia.
“We are delighted to receive the backing of Northpond Ventures in addition to our existing investors as we advance the field of multiplex biomarker detection and analysis for tissue phenotyping,” said Michael Natan, CEO of Ultivue. “This latest round of financing sets the stage for substantial growth and allows us to continue developing the innovation to meet the evolving needs of our customers in translational and clinical research.”
“The fast market adoption of Ultivue’s reagents and services is making an impact in the field of immuno-oncology research and we are excited to work together with the current investors to drive forward the mission of tissue-based spatial phenotyping,” said Sharon Kedar, Co-Founder, Partner at Northpond Ventures.
By developing a single set of novel, proprietary reagents used both for biomarker discovery (higher content, low throughput) and translational use (lower content, high throughput), Ultivue is connecting the insights gained from research directly into the pathology lab. Ultivue’s UltiMapper™ multiplexed assays applied to tissue biopsy samples enable simultaneous quantitation of multiple biomarkers with sub-cellular spatial resolution and fit completely within traditional IHC workflows. Translational and clinical researchers leverage UltiMapper assays to elucidate complex biology and demonstrate their clinical utility as precision medicine research tools. Ultivue is expanding its UltiMapper assay product portfolio and menu of contract research services to provide a comprehensive set of precision medicine solutions for oncology research and focus in other therapeutic areas.
Ultivue is based in Cambridge, MA. For more information, visit www.ultivue.com
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