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9 Jan 2013

Labcyte closes liquid transfer financing

Labcyte confirms financing will be used to develop future versions of its liquid transfer system

Labcyte Inc, a privately-owned company that develops revolutionary liquid transfer systems essential to clinical trials and life sciences research, has announced it has closed a Series D financing fund worth $5.3 million (£3.3 million) that will be invested in the technology.

The company's award-winning products offer a high level of control through the use of acoustic energy that allow researchers to transfer liquids with the required level of accuracy through the combined use of software and automation platforms.

Labcyte's technologies are therefore highly valued in a variety of pharmaceutical processes as they allow liquid to be moved without contact.

Mark Fischer-Colbrie, chief executive and president of Labcyte, confirmed that the investment would be used to expand the firm's line of products in order to appeal to a greater number of pharmaceutical and biotechnology firms.

"Our systems are being employed to further personalized medicine with multiple applications in genomics, proteomics, diagnostics and cell health. Closing the funding will further enable us to add to our product lines," he added.

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