Alamar Biosciences Raises $128 Million in Oversubscribed Series C Financing to Accelerate Commercialization of its Proteomics Platform

Financing led by Sands Capital brings total capital raised to nearly $250 million.

FREMONT, Calif., Feb. 26, 2024 /PRNewswire/ -- Alamar Biosciences, a company powering precision proteomics to enable the earliest detection of disease, announced today the first close of $100 million in Series C financing with the second close of an additional $28 million expected to happen within the next 30 days. This new capital brings Alamar's total funding to date to nearly $250 million. The financing round was led by Sands Capital and included participation from new financial and strategic investors as well as existing major investors. Concurrent with the financing, Ian Ratcliffe, Executive Managing Partner of Sands Capital, has joined the Company's Board of Directors.

"We are extremely grateful for the strong support we have received from this premium group of investors in this significantly oversubscribed round. It is a testament to our game changing technology, solid IP, and strong early market adoption," said Dr. Yuling Luo, Founder, Chairman & CEO of Alamar. "Our proprietary NULISA™ technology has demonstrated superior performance and a unique combination of capabilities that will enable our customers to accelerate biomarker discovery and the development of non-invasive tests for diseases with high unmet need. With this funding, we are now well positioned to power precision proteomics through accelerated commercialization."

"Proteomics represents a dynamic and fast-growing market with significant opportunity for disruption as new platforms providing both higher sensitivity and multiplex capability are needed to accelerate proteomics research and translation," said Ian Ratcliffe, Executive Managing Partner of Sands Capital. "The enthusiasm we have seen from early customers makes us believe that Alamar is poised to become a leader in the evolving proteomics space." 

Earlier this year, Alamar announced the commercial launch of the ARGO™ HT System and the NULISAseq™ Inflammation Panel 250 for deep profiling of immune response. Alamar's NULISA technology utilizes a novel sequential capture and release method to purify the immune complex, improving signal-to-noise by more than 10,000-fold. It also provides corresponding increases in sensitivity and dynamic range in comparison with traditional immunoassay approaches. The ARGO HT System provides an automated method for running NULISA assays with less than 30 minutes of total hands-on time. With qPCR and NGS readouts, the NULISA platform enables both focused analysis of validated biomarkers and highly multiplexed profiling of hundreds to ultimately thousands of proteins. The company plans to use the funds to grow the commercial and customer support teams, drive market adoption, and expand the product menu.

About Alamar Biosciences, Inc.
Alamar Biosciences is a privately held life sciences company with a mission to power precision proteomics to enable the earliest detection of disease. The company's proprietary NULISA Platform along with the ARGO HT System work seamlessly with the latest advances in genomics to achieve single digit attomolar detection sensitivity, greatly surpassing the most sensitive protein detection technology on the market today. For more information, please visit http://www.alamarbio.com.

SOURCE Alamar Biosciences, Inc.