Cell Microsystems Strengthens Suite of Products with Acquisition of West Coast Company
Cell Microsystems recently announced its acquisition of Oakland, California-based Fluxion Biosciences, a developer of automated patch clamp technology and cell-based assay tools. The Durham-based company acquired Fluxion to complement its CellRaft technology for cell biology research.
"Bringing the products and services of Fluxion Biosciences into Cell Microsystems is a leap forward for us," said Cell Microsystems CEO Gary Pace in a statement. "This combination aligns with our commitment to empower researchers with the most advanced tools for in-depth cell line development and cellular research that drives progress in the life sciences."
The Fluxion team will join Cell Microsystems and bring with it the IonFlux, BioFlux, and IsoFlux products. By combining the products with Cell Microsystems’ CellRaft technology, the company says it will provide researchers with a suite of tools that will provide critical insights into various physiological processes.
Cell Microsystems currently employs 37 people and will expand that number to 48 over the next year, the company said.
The acquisition was supported by a concurrent Series B financing led by Telegraph Hill Partners, which invested $6.5 million toward a goal of $13 million. Telegraph Hill previously invested $10 million in Cell Microsystems in 2021.
Early in the development of the CellRaft technology, which was a spin-off from the University of North Carolina at Chapel Hill and the lab of Nancy Albritton, the North Carolina Biotechnology Center awarded the company a loan of $30,000. This loan was followed by a $3,000 award for an industrial intern in 2013 and two $250,000 loans in 2018 and 2020.