Alamar Biosciences Announces $128M Series C to Accelerate Commercialization of its Proteomics Platform

February 26, 2024Client News

Gunderson Dettmer represented life sciences client Alamar Biosciences, a company powering precision proteomics to enable the earliest detection of disease, in its $128 million Series C financing led by Sands Capital.

In the announcement of the transaction, Alamar Biosciences CEO and Chairman Dr. Yuling Luo said, “We are extremely grateful for the strong support we have received from this premium group of investors in this significantly oversubscribed round. It is a testament to our game changing technology, solid IP, and strong early market adoption. Our proprietary NULISA™ technology has demonstrated superior performance and a unique combination of capabilities that will enable our customers to accelerate biomarker discovery and the development of non-invasive tests for diseases with high unmet need. With this funding, we are now well positioned to power precision proteomics through accelerated commercialization.”

Earlier this year, Alamar announced the commercial launch of the ARGO™ HT System and the NULISAseq™ Inflammation Panel 250 for deep profiling of immune response. Alamar's NULISA technology utilizes a novel sequential capture and release method to purify the immune complex, improving signal-to-noise by more than 10,000-fold. It also provides corresponding increases in sensitivity and dynamic range in comparison with traditional immunoassay approaches. The ARGO HT System provides an automated method for running NULISA assays with less than 30 minutes of total hands-on time. With qPCR and NGS readouts, the NULISA platform enables both focused analysis of validated biomarkers and highly multiplexed profiling of hundreds to ultimately thousands of proteins. The new capital will be used to grow the commercial and customer support teams, drive market adoption and expand the product menu.

The Gunderson Dettmer deal team was led by Ivan Gaviria and included Nate Gray, Chase Beckstead, Maddy Kerr Hyde, Mark Foster, Michael Richman, Gina Marek, Julie Mahoney, Margaret Lynch and Greg Kinzelman.

Alamar Biosciences
Sands Capital