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  • New funding of $2.9 million USD (£2.2 million) is in addition to
    the $2 million (£1.5 million GBP) investment (announced in January
    2019), brings the total raised to $4.8 million USD (£3.7 million GBP)
  • Lead investors were Greenwood Way Capital and 24Haymarket Limited
  • Funding will be used to further expand operations in the UK and USA

CAMBRIDGE, England–(BUSINESS WIRE)–Sphere Fluidics, a company commercializing single cell analysis systems
underpinned by its patented picodroplet technology, announced today that
it has closed an additional tranche of investment of $2.9 million (£2.2
million), securing a total of $4.8 million (£3.7 million) in investment.
The funding will be used as working capital for the Company’s Cyto-Mine®
Single Cell Analysis System, expansion of the UK facility and enable the
doubling of personnel through the opening of a new US Sales Office and
Demo Lab in California.

The funding round was led by Greenwood Way Capital whose members, which
included several international family offices, invested a total of $4.3
million (£3.3 million), alongside 24Haymarket Limited and other
individual investors.

Sphere Fluidics’ Cyto-Mine® is an automated platform which
integrates single cell screening, sorting, dispensing, imaging and clone
verification. It can process up to 40 million cells per day and assesses
and isolates those that produce a specific antibody or biologic to help
streamline workflows and improve throughput in biologics discovery and
cell line development.

Frank F Craig PhD MBA, CEO, Sphere Fluidics, commented:We
are delighted to raise this additional funding. Due to our
over-subscribed investment round earlier this year, we decided to add on
a second tranche to accommodate the additional interest. We are
currently recruiting and looking at prospective new facilities in the UK
and California to support the growth of our commercial and scientific
activities.

Ian Leigh, Founder, Greenwood Way Capital commented:We are
very pleased to have been able to assist Sphere Fluidics once again and
to have introduced them to suitable investors for their various funding
stages. This was our fourth funding round with them. Our members range
from high net worth individuals to large family offices which have
enabled us to support the Company from its early stage investment rounds
to the recent larger scale-up fundraising. It has been exciting to have
worked with such a professional team developing such a unique
technology.”

For more information about Sphere Fluidics, please visit: https://spherefluidics.com/

ENDS

Contacts

Michelle Ricketts
[email protected]