ApoCell, a molecular diagnostics laboratory that analyses the effectiveness of new compounds for the world’s leading pharmaceutical and biotechnology companies, has received an investment from growth equity investor Summit Partners.
The investment will be used to fund ApoCell’s organic growth initiatives and continued development of the company’s technology platforms.
“The decision to raise outside capital was an important and strategic move for ApoCell, and we believe Summit will assist us in achieving even greater results,” says Dr. Darren Davis, ApoCell’s chief executive. “With Summit’s strategic guidance and global network of contacts, we are now uniquely positioned to rapidly expand ApoCell’s offering and provide even more valuable service to our customers.”
ApoCell was founded in 2004 by Davis to commercialise biomarker technologies, some of which were developed at The University of Texas M.D. Anderson Cancer Center. ApoCell spun out as a standalone company in 2005. The company leverages expertise in the areas of oncology, molecular diagnostics, biomarkers and drug development to isolate and analyse rare cells, along with measuring the level of expression of biomarkers in blood and tissue specimens from clinical trial subjects with various types of diseases. ApoCell can support the analysis and specimen logistics for many types of projects from preclinical to phase III trials world-wide.
“At Summit, we’ve been investing in life sciences and laboratory companies for nearly 20 years. Today we see a large-scale, pressing demand for personalised therapies–particularly in oncology–and ApoCell is ideally positioned to become a market leader," says Tom Jennings, managing director with Summit Partners who will join the ApoCell board of directors. “ApoCell has a great track record, an exceptional management team and an impressive customer base. We look forward to working with this terrific organization to achieve even greater success.”