Summit Partners Invests in ApoCell, Inc., a Leading Innovative Cancer Diagnostics Company
Published: Sep 30, 2009
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 our customers."
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 Group.
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 companies.