Isoplexis Snags $13.5 Million Series B Funding Round
BRANFORD, Conn., Sept. 25, 2017 /PRNewswire-USNewswire/ -- IsoPlexis Corporation (IsoPlexis), a privately held life science company at the forefront of single-cell analytics technology and the immune-based cancer treatment revolution, has announced today that it raised $13.5 million in its Series B financing round, the final closing of which was August 25, 2017.
The Series B financing round was led by Spring Mountain Capital, with participation by Connecticut Innovations, North Sound Ventures, and Ironwood Capital.
IsoPlexis' original scientific leaders from Yale, Caltech, UCLA and Memorial Sloan Kettering Cancer Center initiated research and developed core technologies to detect cellular responses at the single-cell resolution, in order to better understand how to develop potent personalized immune therapies for various cancers. IsoPlexis has expanded that original technology to create a next-generation system, capable of identifying and predicting patient responses to immunotherapy more accurately than conventional assays. More recently in 2017, researchers from Kite Pharma, NIH and Yale presented data from IsoPlexis collaborations in CAR-T, anti-PD1 and other immune therapy areas to advance biomarker discovery for immunotherapy.
IsoPlexis enables researchers to accelerate the fight against cancer by providing a simple approach to understanding the complex role of immune cells that determine patient outcomes. The IsoCode assay and IsoLight, IsoPlexis' single-cell precision platform, can capture previously unseen 42 different secreted proteins per cell, across thousands of single cells simultaneously. The result is a precise functional profile of tumor-reactive T-cells in each patient, which enables researchers to better predict and understand complex cancer patient response. The system is also being used to advance research and therapeutic development in infectious diseases, as well as multiple sclerosis, systemic lupus and other high-need areas.
"This latest funding round allows us to continue our work to advance the fight against cancer," said Sean Mackay, IsoPlexis Chief Executive Officer and Co-Founder. "Using the IsoPlexis technology, our partners are beginning to gather data to help improve future treatments for the patients with the highest need. This new funding will help us build on our momentum, and is a reflection of our investors' optimism around the IsoPlexis system."
"IsoPlexis' collaboration data and product development has continued to demonstrate both the need for the IsoPlexis technology and the potential to have a large impact on improving patient outcomes," said Gregory P. Ho, President of Spring Mountain Capital and IsoPlexis Board Director. "We are excited to continue our partnership with the IsoPlexis team to move the company forward."
IsoPlexis will use its new funding for continued product development and marketing, enabling further use of the IsoCode assay and IsoLight system by leading trial centers and biopharmaceutical companies focused on oncology and a growing list of other important disease areas.
"IsoCode, the core technology of IsoPlexis, can uncover the complex and somewhat mysterious role of each T cell in the battle against tumor cells. More importantly, it is a robust technology, readily adaptable in clinical settings, to generate individualized patient immunogram profiles such that we have a much better understanding which patients will respond to which treatments. I am excited by the current progress, and look forward to greater and broader impact in immunotherapy and other important therapeutic areas," said Rong Fan, Ph.D., IsoPlexis Co-founder and Scientific Advisory Board Chair, and an Associate Professor of Biomedical Engineering at Yale University.
IsoPlexis, a privately held life sciences company, is developing novel technologies at the forefront of the revolution in immunity-based treatments of cancer. Using a next-generation diagnostic and therapeutic platform to identify patient responses at the single cell level, IsoPlexis' original scientific leaders from Yale, Caltech, UCLA, and Memorial Sloan Kettering Cancer Center have advanced understandings of personalized therapies against various cancers. IsoPlexis is venture funded by Spring Mountain Capital, North Sound Ventures and Connecticut Innovations, as well as supported through grant funding from the National Cancer Institute and the National Institutes of Health. For additional information on IsoPlexis, visit http://www.isoplexis.com or email firstname.lastname@example.org.
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SOURCE IsoPlexis Corporation