Alamar Biosciences, a science startup working on precision proteomics, has announced the closing of an $80 million Series B funding round.
The funding round was led by Sherpa Healthcare Partners with the participation of new investors Morningside Ventures and Samsara Biocapital. Existing investors Qiming Venture Partners and Illumina Ventures also joined this round, bringing the total funding raised by the startup to $110 million.
Alamar Biosciences was founded by technologist and entrepreneur Dr. Luo, Dr. Steve Chen, and structural biologist who has engineering expertise in extensive antibody Dr. Yiyuan Yin. Dr. Luo and his partner, Dr. Xiao-Jun Ma, successfully commercialized the most sensitive in situ RNA detection technology on the planet, called RNAscope. As a result, Alamar Biosciences was born when Dr. Luo recognized the necessity of ultra-sensitive protein detection technology in proteomics.
The team has leveraged their knowledge and experience developing single-molecule detection technologies and antibody engineering to build two technology platforms, including NULISA and Attobody. These platforms are combined to detect extremely low levels of protein biomarkers in human blood plasma. Dr. Yuling Luo, Founder, Chairman and CEO at Alamar Biosciences said:
“Despite recent progress in the field, there is still no technology that unites two essential goals in proteomics analysis, namely the ability to go as deeply as possible to detect very low abundance proteins and the ability to profile thousands of proteins in a single sample. This capability will be critical for the discovery and measurement of many proteins in human plasma that is currently undetectable. Alamar’s NULISA and Attobody platforms will help fill this void and will drive a new wave of innovations in research, diagnostics, and therapeutics.”
The latest funding will be invested in the development of the proprietary proteomics platform designed by Alamar Biosciences, aiming to make it become the world’s most sensitive, highly multiplexed, and high dynamic solution for life science research. This solution can help improve the early detection of cancer and other diseases, revolutionizing the healthcare industry and helping millions of patients around the globe.