AP NEWS

Cytek Biosciences Adds Investors, Completes Series C Financing

September 25, 2018

FREMONT, Calif., Sept. 25, 2018 (GLOBE NEWSWIRE) -- Cytek Biosciences Inc., the preeminent provider of innovative flow cytometry solutions, today announced the completion of a Series C funding round co-led by Northern Lights Ventures, LLC and 3E Bioventures. The funding will be used to facilitate the expansion of Cytek’s footprint around the world, as well as to ramp up sales, marketing, operations, and global product offerings.

Spurred by the success of its Cytek™ Aurora systems, which have been sold into four continents, this latest injection of capital underscores the strength of Cytek as a company – and the value that its innovations are providing to the scientific community. According to Dr. Wenbin Jiang, CEO of Cytek Biosciences, “Our investors share our excitement in making advanced life science and biotech instrumentation that was once available to very few scientists accessible to more researchers. With a robust product roadmap and pipeline of interest already in place, we’re extremely excited about what the future holds for Cytek.”

Additionally, Feng Deng, founder of Northern Lights Ventures, will join Cytek’s board of directors. Deng has led and backed nearly 200 companies, and, prior to forming Northern lights, co-founded NetScreen Technologies, which went public on NASDAQ and was later acquired by Juniper Networks for US$ 4.2 billion. “By bringing a price point to market that lines flow cytometry up for broader adoption, Cytek Biosciences is well-positioned to deliver on its promise to make high-end, high-quality flow cytometry accessible to a larger number of researchers and clinicians,” noted Deng. “We believe the company’s new, unique flow cytometry detection methods and technology will play a significant role in the clinical and research fields for years to come.”

3E Bioventures is a healthcare-focused fund, covering first-in-class drug and IT/Biotech combination devices in China and the U.S. “Cytek Biosciences’ innovative technology brings advanced flow cytometry to both research and clinical markets, especially in the immuno-oncology space,” said Dr. Francine Fang, partner at 3E Bioventures. “We believe Aurora will be rapidly adopted into the worldwide market.”

Cytek continues to move forward in empowering scientists to obtain deeper insights from a single sample: the company expects to launch several new products before the end of the quarter. Please visit www.cytekbio.com for more information.

About Cytek BiosciencesCytek Biosciences Inc. is a leading flow cytometry solution provider that provides compact, affordable instruments with high multiplexing capability and a wide range of services to support researchers and clinicians. Cytek is headquartered in Fremont, California with branch offices and distribution channels across the globe. To learn more, visit www.cytekbio.com and follow them on LinkedIn.

Media Contact:Justine Houston-BrownLages & Associates(949) 453-8080justine@lages.com

A photo accompanying this announcement is available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/79f26bbb-a1d7-4beb-a0d4-fba686a15726

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

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