The funding will support manufacturing and commercial partnerships for a system that analyzes multiple protein targets in less than two hours.
Pictor Holdings Inc has closed a $7.5 million bridge round of growth capital to accelerate the commercialization of its targeted protein analysis platform. The Carlsbad, California-based company has raised approximately $30 million to date.
Proceeds from the funding will be used to expand commercial partnerships, scale platform development and manufacturing capabilities, and support translational studies across human and animal health markets, according to a press release from Pictor Holdings Inc.
The platform, which includes PictArray, PictImager, and Pictorial software, allows laboratories to analyze up to 20 protein targets from a single sample in less than two hours. The system is designed to reduce costs and workflow complexity for pharmaceutical companies, reference laboratories, and animal health providers.
“Proteomic assays should not be limited to the largest, most specialized settings. Pictor’s platform is designed to make protein insights more accessible, practical, and economical, so more partners can use them to improve health and wellness across people and animals,” says Jamie Platt, PhD, CEO and co-founder of Pictor Holdings Inc, in a release. “By helping labs generate more information from a single sample with fewer consumables, we also see an opportunity to support One Health and sustainability goals as adoption scales.”
The investment follows the company’s first year at its US headquarters. During that time, Pictor launched seven commercial products and secured four strategic partnerships. The company also expanded its leadership team with the appointments of Terry Kelly, PhD, as chief operating officer and Tim Shannon as chief financial officer.
Pictor Holdings Inc expects to enter licensing stages with multiple partners within the next 12 to 18 months, according to the press release. The company is also evaluating a US-based Series A financing round to support its next phase of growth.
“The continued support of our existing investors reflects confidence in both the platform and the commercial model we’ve built around it. This capital positions Pictor to accelerate partnerships and scale operations as we advance toward our Series A,” says Tim Shannon, chief financial officer of Pictor Holdings Inc, in a release.
ID 185593976 © Putilich | Dreamstime.com
