Advanced Cell Diagnostics has raised $22 million in Series C financing in a round led by Summit Partners, with participation from Kenson Ventures and existing investors, Morningside Ventures and New Leaf Venture Partners.
The company — which is a world leader in the field of in situ nucleic acid detection for life science research and clinical diagnostics — will use the fresh capital to accelerate the entry into the research and clinical diagnostics markets and launch new technology platforms based on ACD’s proprietary RNAscope technology.
“The new funding will accelerate our pace of continued innovation and allow us to aggressively pursue our vision to bring RNAscope technologies to the forefront of precision medicine,” said Dr. Yuling Luo, Founder, President and CEO of ACD, “The company is now well-capitalized to realize this vision.”
Also as part of the deal, Harrison Miller, a Managing Director with Summit Partners, will join ACD’s Board of Directors.