Carterra Inc. Raises $10M from Telegraph Hill Partners to Develop and Launch Next-Generation Antibody Characterization Platform
Carterra LSA, fully integrated high throughput mAb characterization platform (Image credit: Carterra Inc.)
Carterra Inc., an innovative label-free biosensor company, has announced the closing of a $10M financing from Telegraph Hill Partners (THP). The proceeds will be used to complete development and commercialize the Company’s LSA™ instrument, a fully automated, high-throughput monoclonal antibody (mAb) characterization platform. The LSA enables label-free binding experiments to be performed in a fast and efficient manner, allowing valuable high-resolution data to be obtained early in the drug discovery process with minimal sample consumption.
Concurrent with the financing, Carterra has strengthened its Board of Directors with the addition of three seasoned life science executives who join current directors Josh Eckman, CEO of Carterra, and Joe Keegan, previous CEO of Forte Bio, to help drive the Company’s growth. The new Board members include: Alex Herzick, Vice President of Telegraph Hill Partners; John Lillig, Executive Chairman of Dynex Technologies and former CEO of NEXUS Biosystems; and Jack Ball, CEO of Solulink and previous Chief Commercial Officer of Accuri Cytometers. “We are very pleased to welcome Telegraph Hill Partners as investors in Carterra and Alex, John, and Jack as new members of our Board of Directors,” said Josh Eckman, CEO of Carterra. “Aided by this funding, the experience of our Board of Directors, and the domain expertise of Telegraph Hill Partners, Carterra is poised to take significant steps forward in the commercialization of our next-generation label-free biosensor platforms.”
Carterra would like to thank its outgoing directors Gary Sams, Bill Tew, and scientific co-founder Bruce Gale for their dedication in guiding the Company through its initial technological and commercial development. Bruce Gale will remain involved with the Company as part of a team focused on innovative grant funded research related to the Company’s technology. Carterra (carterra-bio.com), formerly Wasatch Microfluidics, founded in 2005 and based in Salt Lake City, UT, is developing the next generation of label-free biosensors for drug discovery and life science research.
Telegraph Hill Partners (telegraphhillpartners.com), founded in 2001 and based in San Francisco and San Diego, CA, invests in innovative commercial stage life science, medical technology and healthcare companies.
For further information, please contact: Julian Abery, VP Marketing, P: 919-724-0046, firstname.lastname@example.org
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