$27 million in private equity financing raised proceeds to expand its marketing and sales capabilities and to develop new products focusing on cancer research
Guava Technologies, a biomedical products company focused on developing and commercialising cell-based analysis systems for life science research and development and clinical diagnostics, says it has raised US$27 million in a series D private venture financing.
The financing was led by Boston-based venture capital firm, HLM Venture Partners, and included series C investors Abingworth Management, ProQuest Investments, Skyline Ventures, St Paul Ventures, Fog City Fund, Yasuda Enterprises and several new leading life science investors - Granite Global Ventures, MDS Capital, Integra Ventures, Peninsula Equity Partners, Stanford University and other investors.
Guava expects to use the financing proceeds to expand its marketing and sales capabilities and to develop new products focusing on cancer research, drug discovery, cell profiling, bioprocessing, clinical immunology and other fields of use.
"Guava is a leader in the area of cellular analysis, a field that is exploding due to its increasing importance in drug discovery, development and clinical diagnostics," said Ed Cahill, managing partner with HLM. "Guava is revolutionising the way cell biologists conduct their experiments by providing them with easy-to-use microvolume cytometers at their benchtops.
"In combination with the company's proprietary assays and software applications, Guava's systems provide turnkey solutions, enabling researchers to perform more experiments faster than ever before".
"We are extremely pleased with the level of interest in this over-subscribed later stage private round of financing," said Rajen Dalal, Guava Technologies's president and chief executive officer.
"I am delighted to have Ed Cahill and Scott Bonham join the board".
