Alamar Biosciences, a pioneer in precision proteomics aimed at early disease detection, has announced the successful closure of its Series C financing round, securing $128 million. The initial tranche of $100 million has been completed, with an additional $28 million expected to finalize within the next 30 days. This latest funding round brings Alamar’s total funding to nearly $250 million. Sands Capital led the financing, with participation from both new and existing financial and strategic investors. Concurrently, Ian Ratcliffe, Executive Managing Partner of Sands Capital, has joined Alamar’s Board of Directors.
Dr. Yuling Luo, Founder, Chairman & CEO of Alamar, expressed gratitude for the overwhelming support from investors in this oversubscribed round. He attributed the success to Alamar’s groundbreaking technology, robust intellectual property (IP), and swift market adoption. Dr. Luo highlighted the potential of Alamar’s proprietary NULISA™ technology to revolutionize biomarker discovery and non-invasive disease testing by delivering unparalleled performance and capabilities.
Ian Ratcliffe, Executive Managing Partner of Sands Capital, underscored the burgeoning opportunities in the proteomics market, emphasizing the need for innovative platforms with enhanced sensitivity and multiplexing capabilities. Ratcliffe commended Alamar’s potential to lead the proteomics space based on the enthusiastic reception from early customers.
Earlier this year, Alamar introduced the ARGO™ HT System and the NULISAseq™ Inflammation Panel 250 for comprehensive immune response profiling. Leveraging its NULISA technology, Alamar employs a novel sequential capture and release method to purify immune complexes, significantly improving signal-to-noise ratios and enhancing sensitivity and dynamic range compared to traditional immunoassays. The ARGO HT System offers an automated solution for NULISA assays with minimal hands-on time. With compatibility with qPCR and NGS readouts, the NULISA platform enables focused analysis of validated biomarkers and highly multiplexed profiling of hundreds to thousands of proteins.
Alamar intends to utilize the raised capital to bolster its commercial and customer support teams, drive market adoption, and expand its product portfolio, further cementing its position at the forefront of precision proteomics innovation.
