RareCyte Completes Final Tranche of Funding for Launch of its AccuCyte Rare Cell Detection Platform

SEATTLE--(BUSINESS WIRE)--RareCyte Inc., a Seattle-based life science company, closed the second tranche of its funding led by Telegraph Hill Partners (THP). Founded in 2009, RareCyte is focused on the development of the AccuCyte^TM System, a rare cell characterization and retrieval platform based upon the company’s proprietary whole blood enrichment technology. RareCyte’s AccuCyte^TM platform is designed to target circulating tumor and circulating endothelial cells through an unbiased approach that results in high recovery and purity for additional downstream analysis of the cells. RareCyte plans to use the funds to complete the final stages of product development and initiate the platform's commercial launch in the research oncology market. “The identification, characterization, enumeration and retrieval of circulating tumor and other rare cells is a complex but critical component in understanding, diagnosing and treating cancer and other blood-related diseases. We see the AccuCyte technology as the premier system enabling these capabilities,” says Robert Shepler, a member of the company’s board of directors and Managing Director at THP. Ron Seubert, President and CEO, adds, “We are pleased to meet the company milestones for our final tranche and look forward to the next stage of the company’s development including the commercial launch of our AccuCyte system.” The AccuCyte system is currently undergoing final testing at the company’s Seattle headquarters through its clinical research partnerships.

About RareCyte, Inc.

RareCyte is a life science research and diagnostic development company focused on characterizing and isolating rare cells in the blood. RareCyte is dedicated to bringing its innovative technology to the Life Sciences research, drug development, and diagnostic markets providing new tools to answer difficult questions related to cancer and cardiovascular disease. RareCyte's ground-breaking AccuCyte system is an open platform for the unbiased discovery and isolation of circulating tumor cells (CTCs) and circulating endothelial cells (CECs) from whole blood. For more information about RareCyte visit www.rarecyte.com.