Resolve Biosciences Secures $71 Million Series B Financing to Accelerate Commercial Expansion to Meet Global Demand for Molecular Cartography™ Workflow
Funding led by Patient Square Capital follows successful launch of groundbreaking system that delivers highest-resolution view of subcellular, single-molecule, spatial biology
MONHEIM AM RHEIN, Germany – October 24, 2022 – Resolve Biosciences, the pioneer in Molecular Cartography™ technology, today announced it has secured a $71 million Series B financing. The latest round of funding was led by Patient Square Capital and included participation from EDBI, PS Capital, Alafi Capital, and NRW.BANK, as well as other existing investors. The company has now raised more than $100 million.
“Spatial biology is widely considered to be the most significant new field in life sciences,” said Laura Furmanski, PhD, Partner, and Head of Patient Square Insights at Patient Square Capital. “With its talented team and proprietary Molecular Cartography technology, Resolve is leading the new era of single-cell spatial analysis and opening the door to a wave of scientific findings that will redefine our understanding of disease and lead to new therapies and improved patient outcomes.”
Resolve’s groundbreaking Molecular Cartography technology provides the highest-resolution view of subcellular, single-molecule biology, allowing researchers around the world to gain new insights related to COVID-19 pathology as well as neurology, oncology, and developmental biology. Over the last few months, the workflow has been successfully installed at a growing number of leading European and North American laboratories, including VIB (Vlaams Instituut voor Biotechnologie) in Belgium, the Novo Nordisk Foundation Center at the University of Copenhagen, the German Cancer Research Center (Deutsches Krebsforschungszentrum, DKFZ), Stanford Medicine Department of Genetics, and the European Spatial Biology Center in Belgium. Resolve intends to build on its successful commercial launch and use the proceeds from the financing to rapidly scale operations and accelerate product development to meet growing demand worldwide.
“As we have seen through our service business and more recently our workflows installed in customer labs, our fully automated Molecular Cartography platform sets a new standard for subcellular spatial analysis technology,” said Jason T. Gammack, co-founder and CEO of Resolve Biosciences. “This Series B financing is another strong validation of our mission, our technology, and our team. We look forward to working with the Patient Square Capital team and empowering more visionary scientists with the tools to solve biology’s greatest challenges.”
Resolve’s Molecular Cartography workflow features a proprietary, highly multiplexed, single-molecule fluorescence in situ hybridization technology, which offers three-dimensional spatial context at subcellular resolution in a fully automated process. Unlike other approaches, the Molecular Cartography platform provides the required sensitivity, specificity, and workflow convenience to illuminate critical mechanisms, map interactions, and elucidate the cell’s complex transcriptional landscape without destroying the tissue section or cell culture sample. This innovative approach was designed for the multiplexing needs of most scientists in basic, translational, and clinical research. The underlying technology is modular and flexible, and is expected to incorporate the interrogation of DNA, protein, and metabolomic data layers in the future. The pioneering Molecular Cartography technology has already been cited in multiple manuscripts and peer-reviewed scientific publications.
In conjunction with the investment round, Resolve announced that Dr. Furmanski has joined the company’s Board of Directors.