RareCyte Completes Final Tranche of Funding for Launch of its AccuCyte Rare Cell Detection Platform
8/21/2012 11:46:22 AM
SEATTLE--(BUSINESS WIRE)--RareCyte Inc., a Seattle-based life science company, closed the second tranche of its funding led by Telegraph Hill Partners (THP). Founded in 2009, RareCyte is focused on the development of the AccuCyteTM System, a rare cell characterization and retrieval platform based upon the company’s proprietary whole blood enrichment technology. RareCyte’s AccuCyteTM platform is designed to target circulating tumor and circulating endothelial cells through an unbiased approach that results in high recovery and purity for additional downstream analysis of the cells. RareCyte plans to use the funds to complete the final stages of product development and initiate the platform's commercial launch in the research oncology market. “The identification, characterization, enumeration and retrieval of circulating tumor and other rare cells is a complex but critical component in understanding, diagnosing and treating cancer and other blood-related diseases. We see the AccuCyte technology as the premier system enabling these capabilities,” says Robert Shepler, a member of the company’s board of directors and Managing Director at THP. Ron Seubert, President and CEO, adds, “We are pleased to meet the company milestones for our final tranche and look forward to the next stage of the company’s development including the commercial launch of our AccuCyte system.” The AccuCyte system is currently undergoing final testing at the company’s Seattle headquarters through its clinical research partnerships.