QuantaLife, Inc. Closes $17.2M Series B Financing to Accelerate Application Development for Its Droplet Digital™ PCR Platform and Establish Commercial Operations by 2011
PLEASANTON, Calif., Dec. 10, 2010 /PRNewswire/ --
QuantaLife, Inc. announced today that it has closed a $17.2M Series B financing. The majority of the proceeds will be used to establish commercial operations for introduction of its first product, the Droplet Digital™ PCR platform, into the life sciences research market early next year and accelerate development of targeted diagnostic tests. Paladin Capital Group, together with other existing investors reiterated their strong support and was joined by Merieux Developpement and Vital Financial LLC, as new investors. According to Dr. Bill Colston, Founder and Chief Executive Officer of QuantaLife, "Droplet Digital PCR establishes a new standard for nucleic acid measurement, including the absolute quantification of DNA, RNA, and miRNA. It has a myriad of potential uses – in the research laboratory and in the clinic. With the completion of this financing, we have diversified our world-class investor base and are well positioned for a successful transition to commercialization. We look forward to bringing a cost-effective and reliable product to the research community."
"QuantaLife's technology is very compelling and represents a unique opportunity to establish a new standard for the future of genomics research and nucleic acid testing, with a simple, reliable and cost-effective solution. We look forward to working with QuantaLife's management team and existing shareholders to help establish the company as a global leader in the emerging digital PCR market," said Francois Valencony, Managing Director of Merieux Developpement.
About QuantaLife, Inc.
QuantaLife has developed 3rd generation PCR technology that quantifies DNA molecules by Droplet Digital PCR. Droplet Digital PCR measures target nucleic acid target molecules with unrivaled absolute quantitative resolution and sensitivity. Applications include copy number variation (CNV), mutation detection, and gene expression analysis. The company's mission is to provide tools that accelerate new strategies for the diagnosis and treatment of inherited disorders, cancer, and infectious disease.
About Paladin Capital Group
Paladin Capital Group is an established, multi-stage private equity firm that invests in growing companies through acquisitions and expansion capital. Headquartered in Washington D.C., with offices in New York City and Atlanta, GA, Paladin has more than $950 million of committed capital across several distinct funds.
About Merieux Developpement
Merieux Developpement is the healthcare investment company of Institut Merieux, a French industrial holding company dedicated to biology, which currently employs more than 10,000 people worldwide. Institut Merieux has majority ownership of bioMerieux (NYSE Euronext, BIM), Silliker, Transgene (NYSE Euronext, TNG) and ABL Inc. Merieux Developpement intends to invest up to euro 70 million as minority shareholder from 2010 to 2013 in the field of healthcare on a global basis, working alongside entrepreneurs and innovative companies whose products and services can bring genuine advances to the health of patients and consumers worldwide. More information can be found at www.merieux-developpement.com
SOURCE QuantaLife, Inc.