Accuri Cytometers Completes $6 Million Financing

Ann Arbor-based Accuri Cytometers Inc. announced completion of a $6 million Series E preferred stock financing.

The financing included current investors Arboretum Ventures of Ann Arbor, Baird Venture Partners of Chicago, Fidelity Biosciences of Cambridge, Mass., Flagship Ventures of Cambridge, Mass. and the InvestMichigan Program co-managed by Credit Suisse.

Accuri plans to use the proceeds from the Series E financing to support expansion of the Accuri C6 Flow Cytometer System into the clinical in vitro diagnostics (IVD) market.

The Accuri C6 is designed to bring the power of flow cytometry analysis to every life sciences and biomedical laboratory. Explicitly designed for routine use by scientists in their own labs, Accuri's flow cytometer is a full-featured bench-top cell analysis system that provides capabilities similar to industry-leading flow cytometers in a much more user-friendly format and at a fraction of the cost.

"Fueled by our continued sales growth in the U.S. and Europe and our recent expansion into international markets in Asia and South America, Accuri is now one of the fastest growing cell analysis companies worldwide," said Jeffrey Williams, president and CEO of Accuri. "This financing round will enable us to respond to a rising number of requests for an Accuri flow cytometer for clinical diagnostic applications, providing the same benefits of high performance, cost-effectiveness and ease-of-use experienced by our life science research customers."

Accuri is currently implementing an ISO13485 quality system in preparation for the planned European launch of the Accuri C6 Flow Cytometer with CE-IVD mark certification for clinical use, to be followed by a 510 (K) regulatory submission to the Food & Drug Administration seeking clearance to market the Accuri C6 Flow Cytometer for clinical IVD applications in the U.S.

Said Dr. Francis Mandy, consultant to the International Center for Infectious Diseases in Winnipeg, Canada: "It is welcome news that Accuri is proceeding with the development of a clinical version of the C6 flow cytometer -- the compact platform offers performance to match and exceed clinical demands with ease-of-use and affordability."

The Accuri C6 Flow Cytometer is not currently cleared for human clinical in vitro diagnostic use by the U.S. Food and Drug Administration.

More at www.accuricytometers.com.

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