Oxford BioScience Partners is leading a 'Series D' financing of up to $20 million to continue building Cellomics's role in high content cell analysis in life science markets
The announcement of the additional funding for Cellomics coincides with an announcement that Alan Walton, a general partner at Oxford Bioscience Partners, will become chairman of the Cellomics board of directors.
Dr Walton's portfolio includes founding investments in Human Genome Sciences (HGS), Gene Logic, Genetic Therapy, Exelixis, and Geron.
He currently sits on the board of Physiome Sciences, and is chairman, as well as a board member, of Avalon Pharmaceuticals, Psychiatric Genomics, and Asterand.
"We are very pleased to have Oxford BioScience Partners take the lead in this financing and to have Alan Walton become the chairman of the Board," stated Lansing Taylor, CEO of Cellomics.
"Dr Walton has a great record of backing successful biotechnology companies and is considered one of the deans of biotech investing.
His experience will add a great deal to our board.""Cellomics was the first mover and is now the market leader in the field of cellomics that defines the cellular functions of genes and proteins," stated Dr Walton.
"The company has established strong strategic alliances and a deep intellectual property portfolio to build its business.
Cellomics has shown consistent growth in sales since launching its original product platform in late 1999 and its new focus on its core strengths and future strategic relationships puts this company on the track to profitability."The announcements were made at the first company meeting held at Cellomics's new state-of-the-art facility located in the Technology District in Pittsburgh.
