Ultivue declares US$50 million Series D financing round completion

KUALA LUMPUR, April 28 -- Ultivue, a leader in advancing precision medicine solutions through a unique approach combining multiplex biomarker analysis with same slide traditional H&E for tissue phenotyping, has announced completion of a US$50 million Series D round of financing. (US$1 = RM4.099)

New investors include Ally Bridge Group, Pura Vida Investments and Tao Capital Partners. Previous venture investors in Ultivue who also participated in the financing include ARCH Ventures, Northpond Ventures and Applied Ventures LLC.

This additional funding will help Ultivue strengthen its position in the market, deliver innovative solutions to address the dynamic nature of tumour biology from precious tissue samples and provide researchers and pathologists with the ability to fully realise the potential of tissue biomarkers within digital pathology workflows. “We’re excited to welcome our newest investors, and greatly appreciate the support from our existing investment partners,” says Ultivue President and Chief Executive Officer, Jacques Corriveau in a statement.

“This funding will allow us to expand our commercial efforts while also increasing the scope of our research and development in order to remain at the forefront of innovation and provide biological insights for our customers as they work to address the challenge of therapeutic response rates in patients using immunotherapy.”

According to ARCH Ventures Co-Founder & Managing Director Keith Crandell, Ultivue provides fast, accurate, previously unattainable multiplexed protein marker information at high resolution and on existing hardware. --BERNAMA