IntelliCyt Corporation Closes $8 Million in New Financing

Albuquerque, New Mexico (PRWEB) May 06, 2013

IntelliCyt Corporation, a leading provider of assay screening solutions for phenotypic drug discovery, antibody discovery and in vitro toxicity testing, today announced it has completed an $ 8 million financing round.

The financing was led by new investor Arboretum Ventures with participation from existing investors Prolog Ventures, Verge Fund, and New Mexico Community Capital. In connection with the financing, Tim Petersen and George Dunbar of Arboretum Ventures will join IntelliCyts Board of Directors.

We are delighted to have Arboretum Ventures lead the financing and are grateful for the continued support of our existing investors. Arboretum has a great track record of investing in successful life science companies, said R. Terry Dunlay, President and CEO of IntelliCyt. We are seeing a significant acceleration in customer adoption and these funds will enable the company to expand our commercial efforts globally, grow manufacturing capacity, and expand our suite of reagent kits.

IntelliCyts platform for cell and bead-based screening, the iQue Screener, has industry leading performance in both throughput and ease of use. Patented micro-volume sample delivery and rapid processing allow high content, multiplexed assays to be completed in minutes per microplate. Combined with application-specific MultiCyt reagent kits and powerful ForeCyt

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