BioScale secures $25 million for commercialization of ViBE protein analytics systems

BioScale Inc., a privately-held life science company that develops, manufactures and promotes a new generation of protein analytics technology, today announced that it has secured $25 million in its recent financing round. Led by new investor Morningside Venture, this round will be used to expand manufacturing operations and commercial sales of the ViBE protein analytics systems. Also participating in the financing were existing investors New Science Ventures, WFD Ventures, F2 Ventures, and several individual investors.

"We are delighted to build our financing syndicate with the addition of Morningside - a powerful global life science investor," Mark Lundstrom, Founder and CEO of BioScale commented. "Morningside's participation, along with the strong support of our existing investors, positions BioScale well for our commercialization phase. The financing will provide the resources to bring BioScale's ViBE product line into the market and establish BioScale as a leader in protein analytics technology."

"Morningside is pleased to partner with BioScale in leading this financing round," remarked Morningside's Isaac Cheng, MD. "We are excited about the therapeutic and diagnostic potential of protein biomarkers, and feel BioScale's next generation proteomics platform is well-positioned to become a leader in the protein measurement space. We are confident about BioScale's prospects as it enters its commercialization phase in this rapidly expanding market, and look forward to working with BioScale's experienced management team and existing investors toward achieving domestic and international growth."