NEW YORK – Lunaphore Technologies, a developer of microfluidic tissue autostainers, announced on Thursday a first closing of a CHF 23 million ($23.6 million) Series C financing round.
The Lausanne, Switzerland-based company said it will invest the proceeds from the financing in market and product expansion, including entering the US market, ramping up activities in Europe, and developing a next generation of instruments.
The financing brings Lunaphore closer to fulfilling its "vision of enabling highly sophisticated new-generation tissue analytics tests with our unique automation capabilities," its CEO Ata Tuna Ciftlik said in a statement.
Japanese strategic investor PHC Holdings led the financing round, and existing investors Redalpine Venture Partners, Occident, and Alpana Ventures participated.
James Post, president of Epredia, a PHC Group portfolio company, joined Lunaphore's board as part of the transaction.
Epredia was launched in June 2019 following the acquisition of Thermo Fisher Scientific’s Anatomical Pathology business by PHC Holdings.
Post said that Epredia believes that Lunaphore's technology has the potential to improve the workflow for pathologists and immuno-oncology researchers