Curiox Biosystems, a bio-instrumentation company backed by Singapore-based venture investment firm Zig Ventures, has raised $15 million in its Series B funding round that it will use for global commercialisation activities.
With the fresh funding backed by Korean investors, Curiox also revealed plans to pursue an initial public offering on the Korean stock exchange, KOSDAQ, in the next 36 months.
In a statement, Zig Ventures said the funding round was backed by Korean biotech investors who are attracted to the bio-instrumentation solutions that Curiox develops for cell analysis and therapy in the pharma and biotech industries.
The investors in the Series B funding round include KB Investment, Dayli Partners, Quad Investment Management, IMM Investment, SV Investment Partners, and HB Investment.
The fresh funding will be used to scale up and accelerate the commercialisation activities of Curiox globally. The company has already penetrated the markets in the US, China, Korea, and Europe.
Curiox is a bio-instrumentation company spun out of the Agency for Science, Technology, and Research (A*STAR) in Singapore. Zig, on the other hand, is SEEDS Capital’s co-investment partner under Startup SG Equity and has been a cornerstone investor of CURIOX since 2011.
Headed by Chief Executive Officer Dr. Namyong Kim, Curiox has seen strong adoption and sales of its technology, the Laminar Wash HT1000 System. It also recently introduced two new systems, the Laminar Wash AUTO1000 and Laminar Wash MINI.
The AUTO 1000 system offers scientists a fully-automated flow cytometry staining platform designed to produce quantitative and reproducible results for flow cytometry. Cytometry is the measurement of the characteristics of cells.
Laminar Wash MINI, on the other hand, is a smaller, benchtop unit designed for smaller throughput labs.
“Our new funding will help us expand our global reach to the flow cytometry community and other cell-based assay developers,” said Kim.