Sherlock Biosciences today announced that it has raised $80 million in a Series B funding round to support its next-generation diagnostics.
Novalis LifeSciences led the round, which included new investors Illumina Ventures, Albany Capital and Catalio Capital Management, among others. The new investors joined Northpond Ventures, Good Ventures and other existing investors, bringing Sherlock’s total funding to $111 million to date.
Boston-based Sherlock is developing a CRISPR-based method for detecting and quantifying genetic sequences and Inspectr, an instrument-free molecular diagnostics platform based on synthetic biology. It was included in Mass devices 2020 list of medical device startups you need to know about.
Sherlock said in a press release that the latest funding will spur product development and partnerships made possible by the company’s proprietary platform that can operate at room temperature without complex instrumentation, opening up a range of applications in low-resource environments such as the home.
“Sherlock is dedicated to breaking down diagnostic barriers and bringing health information to people around the world,” said the President and CEO of Sherlock Biosciences. Bryan Dechairo said in the press release. “Our new chemistries combine the accuracy of PCR with the simplicity and convenience of antigen testing, powering a decentralized diagnostic platform for DNA and RNA detection. We are grateful to our funding partners for supporting our mission to spark a convenience revolution in healthcare and to promote global public health.