CryoXtract Secures New Funding Led by Allied Minds, Inc.
15-Jun-2011
Boston, MA – CryoXtract formally closed a $3MM round of funding to support commercialization of its proprietary Automated Frozen Sample Aliquotter. This innovative robot enables the biobanking and research communities to disseminate biological samples critically important to translational research, molecular medicine and biomarker discovery without exposing them to repeated freeze-thaw cycles that may degrade their molecular integrity and fidelity. Boston-based Allied Minds, Inc. led the financing. The new funds will be used to launch CryoXtract’s first application of this unique robotic solution, thus enabling the successful hands-free extraction of frozen aliquots from frozen plasma and serum samples.
Conceived at Harvard Medical School by Dale Larson and developed in collaboration with Northeastern University, this original technology enables the hands-free extraction of multiple frozen aliquots from one single frozen sample without thawing it -- effectively helping protect sample integrity, standardize sample processing, improve lab efficiencies and reduce operating costs by enabling sample storage in large volume tubes (e.g. 2.0mL). A proprietary robotic probe cores a frozen sample under ultra cold conditions and deposits the still-frozen cores into separate cryotubes for distribution and downstream analyses. Extracted cores remain frozen throughout the process and any sample remaining in the parent cryotube may be returned to storage in its original tube still frozen. Independent evaluations demonstrated that the system can successfully extract multiple frozen, uniformly-sized and consistently homogeneous aliquots from one single cryotube of frozen human plasma. Results were reproducible and showed very low variability compared to control samples when analyzed for common analytes.
Speaking on behalf of Harvard University’s Office of Technology Development, Isaac Kohlberg, Senior Associate Provost and Chief Technology Development Officer, stated that “I am pleased with Allied Minds' continued commitment and support to commercially develop this potentially significant new technology which holds promise to advance the state-of-the-art in biobanking practices ” Chris Silva, CEO of Allied Minds, added that “Allied Minds is very happy with the progress achieved by the team leading CryoXtract. Based on initial sales orders we plan to go to market next year. The current feedback we received deepens our commitment to investing in more technology originating from academia.”
About CryoXtract Instruments, LLC
CryoXtract is focused on developing and commercializing high-quality/high-performance laboratory automation and solutions that help protect the quality and increase the utilization of critical collections of frozen human biospecimens and enhance research, analysis & discovery. Conceived to support the needs of modern biobanking, the first application of Company’s proprietary Automated Frozen Sample Aliquotter makes it possible to disseminate critically important plasma and serum samples without subjecting them to repeated freeze-thaw cycling. CryoXtract was formed by Allied Minds, a capital investment firm, in partnership with Harvard University and Northeastern University. www.cryoxtract.com.
About Allied Minds, Inc.
Allied Minds is a private equity-funded innovation company with offices in Boston and Los Angeles. The Company creates startup businesses based on early-stage technology developed at renowned U.S. universities and national labs, and serves as a holding company that supports these businesses with capital, management and shared services. Allied Minds is the premier firm to utilize this novel and fully-integrated approach to technology investing. The Company’s subsidiary investments span multiple business sectors and offer an attractive risk-return profile, a deliverable timeline and potential products that will be groundbreaking in their respective fields. These subsidiaries include BA Logix, Biotectix, Cephalogics, CryoXtract, Illumasonix, ProGDerm, Precision Biopsy, Purtein, RF Biocidics, SaltCheck, SciFluor Life Sciences, SiEnergy Systems, SoundCure and Spin Transfer Technologies. For more information, please visit www.alliedminds.com.
About Harvard University’s Office of Technology Development
The Harvard University Office of Technology Development focuses on advancing the development of groundbreaking discoveries by fostering strategic collaborations with industry through licensing, sponsored research and new venture agreements to ensure that society benefits from Harvard innovations by fostering their swift, professional and effective development and commercialization.
For more information: Jorge de Dios
CEO, CryoXtract Instruments, LLC
Tel: 703.875.8777
email: jorge.dedios@cryoxtract.com
www.cryoxtract.com
Conceived at Harvard Medical School by Dale Larson and developed in collaboration with Northeastern University, this original technology enables the hands-free extraction of multiple frozen aliquots from one single frozen sample without thawing it -- effectively helping protect sample integrity, standardize sample processing, improve lab efficiencies and reduce operating costs by enabling sample storage in large volume tubes (e.g. 2.0mL). A proprietary robotic probe cores a frozen sample under ultra cold conditions and deposits the still-frozen cores into separate cryotubes for distribution and downstream analyses. Extracted cores remain frozen throughout the process and any sample remaining in the parent cryotube may be returned to storage in its original tube still frozen. Independent evaluations demonstrated that the system can successfully extract multiple frozen, uniformly-sized and consistently homogeneous aliquots from one single cryotube of frozen human plasma. Results were reproducible and showed very low variability compared to control samples when analyzed for common analytes.
Speaking on behalf of Harvard University’s Office of Technology Development, Isaac Kohlberg, Senior Associate Provost and Chief Technology Development Officer, stated that “I am pleased with Allied Minds' continued commitment and support to commercially develop this potentially significant new technology which holds promise to advance the state-of-the-art in biobanking practices ” Chris Silva, CEO of Allied Minds, added that “Allied Minds is very happy with the progress achieved by the team leading CryoXtract. Based on initial sales orders we plan to go to market next year. The current feedback we received deepens our commitment to investing in more technology originating from academia.”
About CryoXtract Instruments, LLC
CryoXtract is focused on developing and commercializing high-quality/high-performance laboratory automation and solutions that help protect the quality and increase the utilization of critical collections of frozen human biospecimens and enhance research, analysis & discovery. Conceived to support the needs of modern biobanking, the first application of Company’s proprietary Automated Frozen Sample Aliquotter makes it possible to disseminate critically important plasma and serum samples without subjecting them to repeated freeze-thaw cycling. CryoXtract was formed by Allied Minds, a capital investment firm, in partnership with Harvard University and Northeastern University. www.cryoxtract.com.
About Allied Minds, Inc.
Allied Minds is a private equity-funded innovation company with offices in Boston and Los Angeles. The Company creates startup businesses based on early-stage technology developed at renowned U.S. universities and national labs, and serves as a holding company that supports these businesses with capital, management and shared services. Allied Minds is the premier firm to utilize this novel and fully-integrated approach to technology investing. The Company’s subsidiary investments span multiple business sectors and offer an attractive risk-return profile, a deliverable timeline and potential products that will be groundbreaking in their respective fields. These subsidiaries include BA Logix, Biotectix, Cephalogics, CryoXtract, Illumasonix, ProGDerm, Precision Biopsy, Purtein, RF Biocidics, SaltCheck, SciFluor Life Sciences, SiEnergy Systems, SoundCure and Spin Transfer Technologies. For more information, please visit www.alliedminds.com.
About Harvard University’s Office of Technology Development
The Harvard University Office of Technology Development focuses on advancing the development of groundbreaking discoveries by fostering strategic collaborations with industry through licensing, sponsored research and new venture agreements to ensure that society benefits from Harvard innovations by fostering their swift, professional and effective development and commercialization.
For more information: Jorge de Dios
CEO, CryoXtract Instruments, LLC
Tel: 703.875.8777
email: jorge.dedios@cryoxtract.com
www.cryoxtract.com
CryoXtract Secures New Funding Led by Allied Minds, Inc.
Boston, MA, June 15, 2011 – CryoXtract formally closed a $3MM round of funding to support commercialization of its proprietary Automated Frozen Sample Aliquotter. This innovative robot enables the biobanking and research communities to disseminate biological samples critically important to translational research, molecular medicine and biomarker discovery without exposing them to repeated freeze-thaw cycles that may degrade their molecular integrity and fidelity. Boston-based Allied Minds, Inc. led the financing. The new funds will be used to launch CryoXtract’s first application of this unique robotic solution, thus enabling the successful hands-free extraction of frozen aliquots from frozen plasma and serum samples.
Conceived at Harvard Medical School by Dale Larson and developed in collaboration with Northeastern University, this original technology enables the hands-free extraction of multiple frozen aliquots from one single frozen sample without thawing it -- effectively helping protect sample integrity, standardize sample processing, improve lab efficiencies and reduce operating costs by enabling sample storage in large volume tubes (e.g. 2.0mL). A proprietary robotic probe cores a frozen sample under ultra cold conditions and deposits the still-frozen cores into separate cryotubes for distribution and downstream analyses. Extracted cores remain frozen throughout the process and any sample remaining in the parent cryotube may be returned to storage in its original tube still frozen. Independent evaluations demonstrated that the system can successfully extract multiple frozen, uniformly-sized and consistently homogeneous aliquots from one single cryotube of frozen human plasma. Results were reproducible and showed very low variability compared to control samples when analyzed for common analytes.
Speaking on behalf of Harvard University’s Office of Technology Development, Isaac Kohlberg, Senior Associate Provost and Chief Technology Development Officer, stated that “I am pleased with Allied Minds' continued commitment and support to commercially develop this potentially significant new technology which holds promise to advance the state-of-the-art in biobanking practices ” Chris Silva, CEO of Allied Minds, added that “Allied Minds is very happy with the progress achieved by the team leading CryoXtract. Based on initial sales orders we plan to go to market next year. The current feedback we received deepens our commitment to investing in more technology originating from academia.”
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About CryoXtract Instruments, LLC
CryoXtract is focused on developing and commercializing high-quality/high-performance laboratory automation and solutions that help protect the quality and increase the utilization of critical collections of frozen human biospecimens and enhance research, analysis & discovery. Conceived to support the needs of modern biobanking, the first application of Company’s proprietary Automated Frozen Sample Aliquotter makes it possible to disseminate critically important plasma and serum samples without subjecting them to repeated freeze-thaw cycling. CryoXtract was formed by Allied Minds, a capital investment firm, in partnership with Harvard University and Northeastern University. www.cryoxtract.com.
About Allied Minds, Inc.
Allied Minds is a $250M private equity-funded innovation company with offices in Boston and Los Angeles. The Company creates startup businesses based on early-stage technology developed at renowned U.S. universities and national labs, and serves as a holding company that supports these businesses with capital, management and shared services. Allied Minds is the premier firm to utilize this novel and fully-integrated approach to technology investing. The Company’s subsidiary investments span multiple business sectors and offer an attractive risk-return profile, a deliverable timeline and potential products that will be groundbreaking in their respective fields. These subsidiaries include BA Logix, Biotectix, Cephalogics, CryoXtract, Illumasonix, ProGDerm, Precision Biopsy, Purtein, RF Biocidics, SaltCheck, SciFluor Life Sciences, SiEnergy Systems, CryoXtract and Spin Transfer Technologies. For more information, please visit www.alliedminds.com.
About Harvard University’s Office of Technology Development
The Harvard University Office of Technology Development focuses on advancing the development of groundbreaking discoveries by fostering strategic collaborations with industry through licensing, sponsored research and new venture agreements to ensure that society benefits from Harvard innovations by fostering their swift, professional and effective development and commercialization.
