A Delaware County life sciences company that recently launched its first product has raised $60 million through a private stock sale.
Mobilion Systems Inc.'s Series C financing was led by D1 Capital Partners of New York. Existing investors aMoon, Agilent Technologies, IP Group, Hostplus and Cultivation Capital also participated in the round.
The company, which has about 60 employees, previously raised $50.4 million from its first two investments rounds in 2019 and 2020.
Founded in 2015, Chadds Ford-based Mobilion is developing high-resolution and high-throughput instrumentation to improve biomarker discovery and accelerate drug development.
Biomarkers are biological molecule found in body fluids and tissues that can identify the presence in the body of an abnormal process or a disease. Biomarkers are also used to see how well the body responds to a treatment.
The funding follows Mobilion's launch last month of its first commercial high-resolution ion mobility product called Mobie. Ion mobility refers to analytical technique used to separate and identify ionized molecules.
Mobie, the company said, provides researchers with "faster, easier and more complete analysis of multiple critical quality assays to significantly enhance protein characterization capabilities that affect product quality, safety and efficacy."
Proceeds from the Series C financing will be used to scale the commercialization of Mobie and to expand and advance product development.
"We are only scratching the surface of opportunity as we are commercializing a platform technology that provides unprecedented simplicity, speed and resolution to separate and identify even the most challenging clinically significant molecules that other instruments fail to detect," said Dr. Melissa Sherman, Mobilion's CEO.
Mobilion's patented platform technology called SLIM — an acronym for "structures for lossless ion manipulation" — digitizes the separation process for identifying molecules in a compound.
"We believe Mobilion is uniquely positioned to deliver rich biological insights to the biopharma industry," said Alex Wagner, a D1 Capital Partners analyst. "We are impressed by the team's vision for the broad application of its platform technology and look forward to supporting the company as it continues to develop and commercialize novel ion mobility products."
