Pasadena, CA (PRWEB) June 30, 2014
The Pasadena Angels and Wasatch Microfluidics today announced that Wasatch had closed a $2 million funding round from existing investors and Kirk Ririe, founder of BioFire Diagnostics.
The funding will be used to expand sales and marketing activity. Wasatch’s product package, which groups early stage antibodies, is already being sold to major pharmaceutical companies. Josh Eckman, the company’s CEO stated, "We are excited to move into this growth phase ".
Terry Kay, Chairman of the Pasadena Angels, commented, “We are delighted with the rapid progress Wasatch has made and at the industry attention they have garnered. This is a great example of the Angels partnering with a gifted management team to build a growing company.”
Wasatch Microfluidics offers high throughput label free analysis platforms for biomolecular interaction analysis. In partnership with IBIS Technologies, Wasatch has made the MX96 SPR imager available in the United States, Australia and Asia. The combination of Wasatch's CFM Printer and the MX96 enables high sensitivity label free analysis of up to 10,000 interactions in an automated format.
Wasatch has also received six Phase I SBIR awards and two Phase II awards through the National Institutes of Health and the National Science Foundation.
Wasatch is dedicated to the advancement of label-free biomolecular interaction analysis, with a passionate focus on throughput and quality.
The Pasadena Angels is devoted to helping forward-thinking innovators, creators and entrepreneurs with the mentorship and funding that fuels success. Over the past 14 years, we have invested more than $40 million dollars of early-stage capital in over 100 companies in Southern California, from $100 thousand up to $1.5 million in early-stage and seed funding. Additionally, we cooperate with a network of venture capital firms and angel investment groups through syndication to help support companies seeking $1 million to $5 million in funding.