LUMICKS, a leading, next-generation life science tools company that develops highly innovative platforms for Dynamic Single-Molecule and Cell Avidity analysis, announced the completion of a $93 million Series D preferred share financing.
The funding round was led by new investors Farallon Capital Management and Lauxera Capital Partners, and included investments by Softbank Vision 2, funds and accounts advised by T. Rowe Price Associates, Parian Global Management, Pura Vida Investments, and Irving Investors.
The round was also backed by existing investor Gilde Healthcare and select members of the LUMICKS management team.
A majority of the proceeds from the financing will be used to bolster growth initiatives including expansion of both research and development and commercial activities for the z-Movi Cell Avidity Analyzer, the company said.
“We are ecstatic to receive an investment from such an impressive group of investors that is excited to support us for our next phase of growth,” stated Olivier Heyning, CEO of LUMICKS. “The new investors are a wonderful complement to our existing investor base and bring an outstanding amount of industry knowledge that we believe will result in an incredibly positive partnership. With this fundraising, we believe LUMICKS is well positioned to drive significant growth of our Dynamic Single-Molecule platform and further accelerate the commercial adoption of the industry-changing z-Movi solution.”
“We believe LUMICKS’ z-Movi Cell Avidity Analyzer for direct, high-resolution measurement of cell avidity is a revolutionary platform that can accelerate translational R&D across institutions and biopharma,” said Alex Slack, Co-Founder of Lauxera Capital Partners. “The z-Movi solution has the potential to drive remarkable advances in cancer treatment. It builds on LUMICKS’ rapid innovation, anchored by its Dynamic Single-Molecule franchise that is expanding access to and use cases for single molecule force measurement.”
William Blair served as sole placement agent for the transaction.
LUMICKS is a leading life science tools company that develops equipment for Dynamic Single-Molecule and Cell Avidity analysis, two rapidly emerging areas in biology research and immuno-oncology.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.