MONTREAL & BOSTON--(BUSINESS WIRE)--Nomic Bio ("Nomic"), the protein profiling company, today announced the closing of an oversubscribed US$17 million Series A funding round, bringing the company's total funding to date to over US$21 million. The round was led by Lux Capital and joined by SR One and Casdin Capital, with participation from prior institutional investors.
"It's evident that the next leap in understanding and treating disease will come from building atop the emerging omic-stack," said Zavain Dar, Partner at Lux Capital. "What’s been sorely lacking is the ability to analyze the proteome as easily as the genome, and the Lux team is confident that Nomic has taken the right approach in tackling that challenge. Their technology enables optimal scalability in both content and throughput without compromising on cost, accuracy, or translatability.”
Nomic is building the nELISATM, a truly scalable next-generation ELISA that leverages advances in DNA nanotechnology, spectral multiplexing, and automation. The nELISA brings about a massively scalable and highly generalizable approach to multiplexed protein quantification and is poised to enable interrogating the proteome at a throughput and cost-efficiency that are otherwise inaccessible today, while maintaining the exquisite sensitivity and specificity of traditional ELISAs. To date, Nomic has worked with select partners across the pharmaceutical and biotech industry to advance drug discovery, ranging from mid-sized biotechs to top-ten pharma.
"Our mission is to improve human health by providing scientists with the tools they need to measure proteins at high resolution and unprecedented scale and cost in order to make better decisions on targets, drugs, and biomarkers," said Milad Dagher, Ph.D., cofounder and CEO of Nomic. "We're excited that our Series A investors share our vision of a future where proteomic information is more broadly and more easily accessible for biomedical scientists at large."
Nomic will deploy the new capital to grow the teams in Montreal and Boston, expand access to the platform by increasing profiling capacity to 100,000 samples a quarter by Q2 2022, scale the nELISA to 500 on-boarded proteins, as well as begin the development of various new modalities such as the identification of post-translational modification.
Nomic (formerly nplex biosciences) is a bioengineering company working to make the human proteome as broadly and easily accessible as the human genome. We are building the nELISA, a next-generation ELISA platform for measuring proteins at scale and at high throughput. The nELISA was designed to seamlessly integrate into current workflows in biology and is uniquely adaptable to a wide variety of use cases within drug and biomarker development workflows. Nomic is headquartered in Montreal, with labs and offices in Boston. For more information, visit www.nomic.bio.