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July 13, 2009

VC Firms, Fidelity Biosciences, Flagship Ventures, Baird Venture Partners, Arboretum Ventures, and InvestMichigan Invest $4 Million in Series D Funding for Accuri Cytometers

Filed under: Venture Capital News — admin @ 9:02 am

Based in Ann Arbor, Michigan; Accuri Cytometers announced today that it had just closed $4 million in series D funding with Fidelity Biosciences, Flagship Ventures, Baird Venture Partners, and Invest Michigan participating in this round of funding.

Accuri Cytometers is a company that is dedicated to the life sciences industry, which develops and markets novel high performance cell analysis systems that are designed to aid research conducted by medical and life sciences researchers by delivering the power of flow of cytonemetry into their laboratories throughout the world. Accuri’s flagship product is the Accuri C6, which is a transformative cytometer that is easy to use, yet is also has a fully featured bench-top cell and bead analysis system.

Proceeds from this round of funding will go to marketing the Accuri C6 Cytometer and provide more growth and working capital.

According to Jennifer Baird, CEO of Accuri Cytometers; the company’s first two products are experiencing amazing market growth and Accuri Cytometers is also pushing ahead with their new European operations. Furthermore, the team at Accuri Cytometers is excited to have new investor, Invest Michigan on board. Invest Michigan is run by Credit Suisse and endorsed by Michigan’s governor, Jennifer Granholm. Ms. Baird went on further to say that Accuri Cytometers is has acquired great customer support, which allows for a strong manufacturing base in Michigan and a strong global presence in the future.

The Accuri C6 Cytometer is specifically designed for the biomedical community for use in their laboratories and this device can provide rapid results at the fraction of the cost of conventional cytometer testing.

Proof of the efficiency of the Accuri C6 Cytometer can be provided by the senior biological scientist at the Flow Cytometry Core Laboratory of the University of Florida, Steven McClellen, who stated that the Accuri C6 Cytometer has the capability to provide high performance flow cytometry at an affordable cost and the transformative abilities of the Accuri C6 Cytometer that are easily accessible to scientists researching cytometry.

Invest Michigan is a vc firm that is operated by Credit Suisse and endorsed by Michigan’s governor, Jennifer Granholm aimed to help Michigan’s industry. Invest Michigan is a fund that is worth about $300 million and also aids Michigan’s retirement community. On the Invest Michigan homepage, it states that the fund invites managers of companies who are interested in investments from the joint fund between the state of Michigan and Credit Suisse. Invest Michigan has two programs for companies to enroll in for investments. The first program is the Growth Capital Program, which targets lead and co-investment opportunities that would benefit Michigan based companies. The Growth Capital Program also inquires about limited corporate buyouts and is managed by Credit Suisse. The second program that Invest Michigan offers is the Michigan Opportunities Program, which is a program that targets lead buyout opportunities for Michigan based companies and also deals in growth equity investments in established Michigan companies. This program is managed by Glencoe Capital, LLC.

For more information about Accuri Cytometers, click here.


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