Accellix Raises $10 Million From BroadOak Capital Partners
Accellix will use the investment to expand its commercial resources and infrastructure in support of its cell therapy customers
SAN JOSE, Calif. & BETHESDA, Md.–(BUSINESS WIRE)–Accellix Inc., which provides quick and accurate flow cytometry results in a compact and easy-to-use platform designed for use by cell therapy companies on the manufacturing floor and at the point-of-need, today announced that it has raised $10 million from BroadOak Capital Partners.
BroadOak is known for its flexible growth capital and M&A advice for life sciences tools and services companies. The investment is part of BroadOak’s fifth fund and marks the firm’s third investment in the last six months in the rapidly growing market of tools and services for cell and gene therapy development and manufacturing. BroadOak previously invested in Accellix as part of a prior fund.
“After our initial investment in Accellix, we watched the company successfully execute against its plan to develop market-leading products for its customers,” said Bill Snider, Partner at BroadOak Capital Partners. “We are excited to support the Accellix team as they become the gold standard in cell phenotyping for cell therapy companies.”
“We are grateful for the opportunity to work with the BroadOak team. This investment will enable the acceleration of our commercial and development efforts. In the past 2 years we grew our customer base by 10X. With some of these customers already implementing the Accellix Platform in their commercial GMP manufacturing processes, we will continue to invest in the infrastructure required to support their needs,” says Nir Nimrodi, Chairman and CEO of Accellix.
Promising cell therapies continue to progress to late stages of clinical development and into commercial products, increasing the need for routine and streamlined quality-control process management. Accellix’s products streamline a complex, but necessary part of cell analysis, providing more robust outcomes and reducing overall QC costs in cell therapy manufacturing.
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About BroadOak Capital Partners
BroadOak Capital Partners, with headquarters in Washington, DC and San Francisco, is a life-sciences focused boutique financial institution that provides direct investment and investment banking services to companies in the research tools and consumables, diagnostics, biopharma services, and adjacent markets. BroadOak has led or participated in investments in more than 50 companies across multiple funds and investment vehicles. For more information, visit www.broadoak.com.
About Accellix
Accellix is a biotechnology company dedicated to developing and commercializing the Accellix Platform to enable its customers in the field of cell and gene therapy to meet their critical QC requirements as they advance life changing therapies benefiting patients worldwide. Accellix empowers its customers by migrating their existing cell assays to the Accellix platform. The Accellix platform is a benchtop flow cytometer operating and reading capillary cartridges integrated with dry reagents. It provides unmatched reproducibility and ease of use for automated multi-parametric cell analysis. For more information visit www.accellix.com.
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