NanoMosaic Closes a $40.75MM Over-Subscribed Series A Round
Plans for Near-Term Commercialization of its Proteomics and Multi-Omics System |
| [06-December-2021] |
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BOSTON, Dec. 6, 2021 /PRNewswire/ -- NanoMosaic Inc., a Tiger Gene founded company that has established itself as the pioneer and leader in nanoneedle (MosaicNeedle™) detection for proteomics and multi-omics applications, announced today that it has closed an oversubscribed $40,750,000 Series A round of financing led by RA Capital Management, joined by Insight Partners, Pura Vida Investments, Time BioVentures and Tiger Gene. Aiming to break the bottleneck in protein biomarker interrogation, NanoMosaic has developed a suite of analyte interrogation technologies and has successfully exported its platform to leading hospitals and institutes.
MosaicNeedles™ represent a breakthrough novel physical structure for protein and nucleic acid interrogation that overcome many of the nuances associated with long-standing bead based chemistries. The MosaicNeedle™, emitting a resonance shift upon perturbation, serves as both the protein capture device as well as the detector, and as such is able to eliminate complex downstream detection reactions and fluorescence read outs, which hinder sensitivity and limit dynamic range. The commercial launch for the company's Tessie™ proteomic and multi-omics platform is targeted within Q1 2022. The Series A funds will be used to build the company's commercial infrastructure, further its application development efforts, and advance its collaborative diagnostic development programs. The advancement of these initiatives will have a significant near-term impact on both the research and diagnostic markets, by providing powerful tools that will enable biomarker elucidation and novel comprehensive diagnostic tests. The first-generation Tessie™ systems, powered by MosaicNeedles™:
NanoMosaic has installed Tessie™ systems at both Massachusetts General Hospital (MGH), as well as the New York Stem Cell Foundation (NYSCF). MGH has developed, and is validating, a diagnostic test for post-operative delirium on the Tessie™ system and has submitted its work to a high impact peer reviewed journal for publication. "NanoMosaic places the future of proteomics in the hands of scientists: fully configurable, simple to run and ripe for additional application development. We are proud to partner with a world-class technical team to help expand access to this powerful platform," said Anurag Kondapalli, Principal with RA Capital. "We are thrilled to have such an involved, strong, and supportive syndicate, led by RA Capital, a knowledgeable and deeply respected leader in life sciences," stated John Boyce, Co-Founder, Interim President and CEO of NanoMosaic, and Co-Founder of Tiger Gene. "RA Capital, Insight Partners, Pura Vida Investments and Time BioVentures, have been significantly involved with the company and have developed a strong rapport with the NanoMosaic team. The collective effort of the syndicate will enable novel proteomics and multi-omics applications that will usher in a new era of diagnostic and therapeutic development initiatives," Boyce continued. "These efforts and initiatives within NanoMosaic will significantly improve patient care with advanced therapeutic development efforts, as well as enhanced diagnostics, in the years to come," Boyce concluded. About NanoMosaic CONTACT: Audrey Warner, audrey.warner@tigergenellc.com
SOURCE NanoMosaic |
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