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Sphere Fluidics Closes $2 Million USD (c. £1.5 million GBP) Investment Round

January 29, 2019

CAMBRIDGE, England--(BUSINESS WIRE)--Jan 29, 2019--Sphere Fluidics, a company commercializing single cell analysis systems underpinned by its patented picodroplet technology, announced today that is has closed a $2 million ( circa £1.5 million) investment round. The Company secured funding from several investors including Greenwood Way Capital, Oxford Technology and Innovations EIS Fund and 24Haymarket. The funds raised will be used to accelerate growth in operations and support sales of its Cyto-Mine ® Single Cell Analysis System.

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 biologic to help streamline workflows and improve throughput in antibody discovery and cell line development. The Company will use the investment to expand operations and sales capabilities across the UK and USA and open a new US West Coast Sales Office.

Frank F Craig PhD MBA, CEO, Sphere Fluidics, said: “We are pleased to see such a high level of interest in Sphere Fluidics and receive funding from several leading investors. We are making further investment in automating and streamlining our manufacturing processes across our product range to extend our offering and to deliver our high-quality standards and service to more researchers working in biotherapeutic discovery and cell line development across the UK and USA. We will be raising additional funds to expand these capabilities further.”

Cyto-Mine will be on display in Washington, DC at SLAS 2019 from 2 nd to 6 th February 2019 (Booth #1655 and #1429).

For more information about Sphere Fluidics and Cyto-Mine, please visit:

https://www.spherefluidics.com/products/integrated-systems/cyto-mine/

View source version on businesswire.com:https://www.businesswire.com/news/home/20190129005399/en/

CONTACT: Zyme Communications

Dr Michelle Ricketts

Tel: +44 (0)7789 053885

Email:michelle.ricketts@zymecommunications.com

KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE HEALTH BIOTECHNOLOGY MEDICAL DEVICES PROFESSIONAL SERVICES FINANCE

SOURCE: Sphere Fluidics

Copyright Business Wire 2019.

PUB: 01/29/2019 05:02 AM/DISC: 01/29/2019 05:02 AM

http://www.businesswire.com/news/home/20190129005399/en

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