HOUSTON, TX and BOSTON, MA--(Marketwire - September 30, 2009) - ApoCell, Inc., a specialized
molecular diagnostics laboratory that analyzes the effectiveness of new
compounds for the world's leading pharmaceutical and biotechnology
companies, announced today that it has received an investment from growth
equity investor Summit Partners. The investment will be used to fund
ApoCell's organic growth initiatives and continued development of the
company's state-of-the-art technology platforms.
"The decision to raise outside capital was an important and strategic move
for ApoCell, and we believe Summit will assist us in achieving even greater
results," said Dr. Darren Davis, ApoCell's CEO. "With Summit's strategic
guidance and global network of contacts, we are now uniquely positioned to
rapidly expand ApoCell's offering and provide even more valuable service to
ApoCell was founded in 2004 by Dr. Davis to commercialize biomarker
technologies, some of which were developed at The University of Texas M.D.
Anderson Cancer Center. ApoCell spun out as a stand-alone company in 2005
and has experienced rapid growth since inception. The company leverages
expertise in the areas of oncology, molecular diagnostics, biomarkers and
drug development to isolate and analyze rare cells, along with measuring
the level of expression of biomarkers in blood and tissue specimens from
clinical trial subjects with various types of diseases (e.g., cancer and
diabetes). ApoCell can support the analysis and specimen logistics for
many types of projects from preclinical to Phase III trials world-wide.
"At Summit, we've been investing in life sciences and laboratory companies
for nearly twenty years. Today we see a large-scale, pressing demand for
personalized therapies -- particularly in oncology -- and ApoCell is
ideally positioned to become a market leader," said Tom Jennings, Managing
Director with Summit Partners who will join the ApoCell Board of Directors.
"ApoCell has a great track record, an exceptional management team and an
impressive customer base. We look forward to working with this terrific
organization to achieve even greater success."
Based in Houston, Texas, ApoCell (www.apocell.com) was founded in 2004 and
leverages expertise in the areas of oncology, diabetes, molecular
diagnostics and drug development to measure biomarker signatures in
clinical trial subjects. The company's proprietary methods provide early
proof of mechanism of action and monitor the effectiveness of various types
of drugs by measuring biomarker expression patterns in biopsies, blood and
rare cell types.
About Summit Partners
Summit Partners (www.summitpartners.com) is a growth equity investor that
provides private equity and venture capital to rapidly growing companies.
Founded in 1984, Summit has raised more than $11 billion in capital and has
provided growth equity, recapitalization and management buyout financing to
more than 300 growing companies across a range of industries and
geographies. Summit Partners seeks outstanding management teams that have
self-financed their companies to profitability and market leadership.
Notable healthcare and life sciences investments include AmeriPath,
Anesthetix, Clinical Pathology Laboratories, Clontech, Diagnostic Hybrids,
Fermentas, HealthCare Partners, Lincare, MDVIP and Pediatrix Medical
In the United States of America, Summit Partners operates as an
SEC-registered investment advisor. In the United Kingdom, this document is
issued by Summit Partners Limited, a firm authorized and regulated by the
Financial Services Authority. Summit Partners Limited is a limited company
registered in England and Wales with company number 4141197, and its
registered office is at 20-22 Bedford Row, London, WC1R 4JS, UK. This
document is intended solely to provide information regarding Summit
Partners' potential financing capabilities for prospective portfolio