Proxima Ventures and Co-win Ventures invest in Bioelectronica® Corporation to accelerate pharmaceutical discovery and development
RENO, Nev., Feb. 8, 2021 /PRNewswire/ -- Bioelectronica Corporation ("Bioelectronica") today announced the closing of an investment by Proxima Ventures and Co-win Ventures to advance the company's innovations in digital biochemistry, from novel assay development to scalable electrofluidics. The Series A investment was led by Proxima Ventures with follow-on investment by Co-win Ventures. The team at Proxima, experienced investors in biotech and medical devices, are headed up by Founding Partners Luke Sun and George Li. Contributing to earlier financing with Co-win, whose healthcare practice is led by Xin Huang, were Intuitive Private Equity and Rising Tide VC.
With this new round of financing, Bioelectronica says it plans to expand the team, drive new applications in cell line development and antibody discovery for the Hypercell® platform. The capital will also be used for scaling the numbers of clients served through product sales of Hypercell®, custom assay development and contract research.
"Bioelectronica is pleased to have Proxima Ventures and Co-win Ventures as partners as we continue to develop and launch Hypercell®, our proprietary single cell sorting platform that uses computer vision, data science, and lensless imaging to enable single cell sorting assays with unprecedented throughput. Bioelectronica is enabling researchers to accelerate early identification of productive cells in antibody discovery and development using high-speed automation embedded in our patented Computer Vision Single Cell Sorting (CVSCS) system that uses proprietary algorithms and real-time analytics," said Jonathan Hull, Co-Founder and CEO. "By improving workflow efficiencies when Hypercell® is deployed, we have the potential to truly enable R&D teams to build their product pipelines and patents at rates not seen before."
Luke Sun added, "We are excited to have this opportunity to work together with the Bioelectronica team. We believe its innovative Hypercell® platform can make significant contributions to the Biotech and Pharma industries worldwide."
"We have been impressed with Bioelectronica's elegant and viable solutions to some of the most difficult problems researchers experience working with biologics," said Xin Huang, further adding, "With Industry facing ever increasing challenges to remain competitive, step change innovations like Bioelectronica's can help maintain this edge."
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