2014

CyVek, Inc. Secures $5.5 Million in Series D Financing Advancing towards the commercialization of next generation immunoassays

WALLINGFORD, Conn., Feb. 4, 2013 /PRNewswire/ -- CyVek, Inc., an innovator in multi-analyte immunoassay technology, announced today that it has secured a Series D round of financing in the amount of $5.5 million.  Connecticut Innovations and a group of private investors participated in the round.

The Series D funding enables the company to create the infrastructure needed to commercialize its novel immunoassay technology, CyPlex™, an integrated test system which includes a proprietary microfluidic cartridge that allows the analysis of multiple biomarkers from very small amounts of biological samples.  This technology has broad appeal in research and clinical applications.  Initially the CyVek system will be used in biomarker analysis in life sciences, drug discovery and clinical research.  CyVek is currently in the beta testing phase.

Per Hellsund, CyVek founder, President and CEO, commented, "We are very pleased to have closed our Series D financing. The funding provided by our investors will enable us to complete development related activities and put together the team and infrastructure required to commercialize.  CyPlex™ continues to demonstrate excellent reproducibility coupled with unprecedented ease of use and will provide exceptional value to researchers and clinicians alike.  We have had extremely positive feedback from early customers and this validates our vision of CyVek fulfilling unmet needs in basic research, translational research and clinical diagnostics."

CyVek was formed in 2010 and is led by an experienced team of researchers and business executives who have developed and commercialized technologies, launched products, driven sales, negotiated partnerships, and led companies from start up to liquidity events.

About CyVek Inc.

CyVek is a privately funded biotechnology company dedicated to the advancement of healthcare by empowering researchers and clinicians with a disruptive technology for performing multi-analyte immunoassays.  CyVek's  CyPlex™ is a versatile platform that can be quickly and easily configured for diverse applications such as rapid diagnostic tests, multi-sample multi-analyte tests, or routine ELISA-like tests, for use in both research and clinical settings.  For more information about CyVek, please call 203-679-0395 or visit us on the web at www.cyvek.com

Contact:
Sheila Burns
203-679-0395

SOURCE CyVek, Inc.



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