Seattle-based biotech company RareCyte has raised $20 million.
With the funding, announced Thursday, RareCyte will expand its Orion platform for spatial biology, a way for researchers to view molecules within individual cells or tissues. The company said the money will also go toward international expansion.
"This funding will allow RareCyte to accelerate the development of our broad menu of spatial biology assays, applications and software products to benefit our customers worldwide," RareCyte CEO Joe Victor said in a news release.
On its LinkedIn page, RareCyte lists an open position for a manufacturing technician.
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RareCyte makes instruments, reagents and software to help researchers find new treatments. In addition to spatial biology, RareCyte offers products for liquid biopsy, a means to analyze tumors from a fluid sample rather than solid tissue.
RareCyte raised a $22 million round in 2019. The company was founded in 2009 and has more than 75 employees listed on LinkedIn.
Forest Road, Arboretum Ventures, F-Prime Capital, HealthQuest Capital, 5AM Ventures, Agilent Technologies, RareCyte founder Ron Seubert, Sheatree Capital and GKCC LLC participated in the round. According to his LinkedIn page, Seubert was RareCyte's CEO from 2009 to 2017 and the chief technology officer from 2017 to 2020, when he left the company.
Victor took over as CEO of RareCyte in 2017. He was the CEO of Startide Sciences for almost two years before that, according to his LinkedIn page, and he spent 12 years as CEO of the Issaquah-based biotech Applied Precision earlier in his career. Applied Precision sold to GE Healthcare in 2011 for an undisclosed amount.
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