SALT LAKE CITY, Dec. 14, 2020 /PRNewswire-PRWeb/ -- Carterra, Inc., the world leader in label-free high throughput antibody screening and characterization, today announced that they have closed on a round of equity financing led by PerkinElmer, Inc. Current Carterra investors Telegraph Hill Partners and Ballast Point Ventures also participated in the financing round.
The Carterra LSA™ platform for accelerating the discovery of therapeutic antibodies has become the new standard in many of the largest pharmaceutical companies in the world, as well as leading biotech, academic, CRO and government research labs. The Carterra LSA platform is also being used in COVID-19 therapeutics research including by CoVIC, the worldwide consortium funded by The Bill & Melinda Gates Foundation. The LSA platform enables 100 times the binding data to be collected in 10% of the time with 1% of the sample versus competing platforms.
"Biologics and biotherapeutics discovery and development is a very dynamic area of pharma science and one that is important to PerkinElmer's strategy as we work with scientists around the world to help them develop new ways to fight chronic disease and outbreaks like COVID-19," said Dr. Alan Fletcher, VP and GM Life Sciences at PerkinElmer. "Carterra's innovative high throughput SPR (surface plasmon resonance) technology is poised to disrupt biologics research in the areas of both upstream profiling and downstream QA/QC."
Traditional antibody discovery relies on low-resolution screening techniques to triage antibody libraries down to a small number of candidates, which are then characterized on low-throughput biosensors. The Carterra LSA platform turns that model on its head by allowing the rapid and high-resolution characterization of entire antibody libraries for binding kinetics and epitope, thereby combining screening and characterization into one step. This saves significant time, money, and precious samples. It also reduces the risk of missing a potential blockbuster candidate. Biologics developers now have an enormous advantage in differentiating their molecules from competitors' drugs and establishing intellectual property claims.
"The LSA platform is the state of the art in biologics discovery," said Josh Eckman, Carterra's Chief Executive Officer. "We are thrilled to have PerkinElmer as an investor and look forward to working together to advance our shared visions to improve drug discovery and life science research."
About Carterra, Inc.
Carterra® is the leading provider of high throughput technologies designed to accelerate and improve the discovery of novel therapeutic candidates. Carterra's LSA™ instrument, software, and consumables for monoclonal antibody (mAb) characterization deliver up to 100 times the throughput of existing platforms in 10% of the time while using only 1% of the sample required by other systems. The LSA combines patented microfluidics technology with real-time high throughput Surface Plasmon Resonance (HT-SPR) and industry-leading data analysis and visualization software to revolutionize mAb screening. Carterra, Inc. is based in Salt Lake City, Utah, and has Customer Experience Centers in San Francisco, Salt Lake City, Boston, and Munich, Germany. For additional information, please visit http://www.carterra-bio.com.
PerkinElmer enables scientists, researchers and clinicians to address their most critical challenges across science and healthcare. With a mission focused on innovating for a healthier world, we deliver unique solutions to serve the diagnostics, life sciences, food and applied markets. We strategically partner with customers to enable earlier and more accurate insights supported by deep market knowledge and technical expertise. Our dedicated team of more than 14,000 employees worldwide is passionate about helping customers work to create healthier families, improve the quality of life, and sustain the wellbeing and longevity of people globally. The Company reported revenue of approximately $2.9 billion in 2019, serves customers in 190 countries, and is a component of the S&P 500 index. Additional information is available through 1-877-PKI-NYSE, or at http://www.perkinelmer.com.
John McKinley, Carterra Inc., +1 (415) 638-7121, [email protected]
SOURCE Carterra Inc.