Nodexus Inc. Emerges from Stealth with $30 Million Series A Funding to Advance Manufacturing and Expand Commercialization of NX One Platform
- The NX One platform is the first universally adoptable system to characterize, sort, and isolate single cells from biological samples
- Industry veteran William Rhodes joins Board of Directors
SAN JOSE, Calif.--(BUSINESS WIRE)-- Nodexus Inc., an emerging leader in the development of automated live cell characterization and isolation technologies, has raised an oversubscribed $30M Series A financing that will allow the company to expand manufacturing of its flagship NX One platform as well as build its commercialization capabilities and pipeline to meet surging demand. The financing was led by RA Capital Management with participation by Section 32 as well as previous investors. The company also announced the appointment of William Rhodes to the Board of Directors.
“Flow cytometry and cell sorting are tremendously valuable techniques that can help researchers in the life science and healthcare sectors unlock new biological discoveries – but only if they have access to these tools. The NX One system provides walk-up usable automated single-cell sorting and dispensing at unprecedented affordability to enable deployment into virtually any lab working on gene editing, cancer biology research, bioprocessing, and other quickly growing applications,” said Karthik Balakrishnan, PhD, Founder and Chief Executive Officer of Nodexus. “We are excited to deliver a broadly available solution for customers spanning startups and academic labs to the largest life science firms. The funding announced today will allow us to expand our team substantially to support our mission to democratize biological tools.”
Single-cell analysis and isolation have become fundamental needs across scientific research. Instruments for cell sorting are often restricted to centralized facilities because they typically require expert technicians for operation and a significant investment in capital equipment. The patented NX One utilizes microfluidic technology in combination with a compact, integrated system to provide on-demand cell analysis, sorting, and dispensing in an affordable manner.
“We believe Nodexus’ platform will enable widespread access to single cells, accelerating biomedical innovation,” said Tess Cameron, Principal at RA Capital and member of the Nodexus Board of Directors. “We look forward to working closely with Nodexus as it expands its manufacturing capacity, commercial capability, and team to address rapidly growing demand for this technology.”
Concurrent with the financing, William Rhodes was appointed to the company’s Board of Directors. Mr. Rhodes is a veteran healthcare executive with extensive experience in the diagnostics and life science tools sectors. During his sixteen-year career at Becton, Dickinson and Co. (BD), Mr. Rhodes was BD's SVP of Corporate Strategy and Development and Worldwide President of BD Biosciences, a $1.4B business unit that included Cell Analysis, Discovery Labware, and Advanced Bioprocessing. Prior to BD, Mr. Rhodes held senior positions at Johnson & Johnson and Pfizer.
“The NX One system has the potential to transform life sciences and cell biology by making single-cell analysis and isolation much more accessible to labs and researchers around the world,” said Mr. Rhodes. “I am delighted to be working with the Nodexus team to help scale up their commercial organization to meet demand for this exciting and novel platform.”
Nodexus is a life science tools company that develops platforms to accelerate biological workflows and make them more widely accessible. The company leverages a proprietary technology suite consisting of microfluidic cartridges, hardware instruments, and software offerings. Nodexus’ flagship NX One platform offers integrated, easy-to-use, and affordable automated cell isolation for applications in industry, clinical research, and academia including cell line and antibody development, CRISPR engineering, single-cell genomics, synthetic biology, and more. For more information regarding the company, please visit Nodexus.
Source: Nodexus Inc.