Montréal-based Nomic Bio claims technology now in use by more than 75 companies.
Montréal-based Nomic Bio has secured a $42 million Series B round to bolster the expansion of its protein profiling platform.
The round was led by an undisclosed United States (US)-based life-sciences-focused investor with participation from Amplitude Ventures, Avant Bio, Lux Capital, Real Ventures, and SR One.
Nomic said the capital will be used to accelerate the expansion of its commercial operations, invest in its platform, and broaden its offerings to meet growing demand. BetaKit has reached out to Nomic for more details but did not hear back by press time.
Founded as Nplex Biosciences in 2017 by bioengineers at McGill University, Nomic aims to change how drugs are developed and diseases are diagnosed with its nELISA protein measuring platform. Proteins are large, complex molecules that play a variety of critical roles in the human body. They can indicate when the disease occurs, how it progresses, as well as whether treatments are effective.
In a release, Nomic said its technology currently serves more than 75 companies including biotechs and research institutes adding that it has profiled more than 25 million proteins.
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“We’re excited to see our technology embraced by some of the most innovative R&D teams and to witness the nELISA platform advance critical drug discovery efforts,” Nomic CEO and co-founder Milad Dagher said in a statement. “As we set out to greatly increase our biological footprint alongside unlocking several new applications, we are energized to partner with a distinguished group of investors who share our bold vision.”
Nomic, an alumnus of both Creative Destruction Lab and Y Combinator, said it has now raised more than $60 million to date. The company last raised a $17-million USD Series A round in late 2021, when it also officially changed its name from Nplex to Nomic Bio.
The Series A was intended to be used to hire more staff, develop automation abilities, and expand its service and manufacturing capabilities in Montréal and Boston, Dagher told BetaKit at the time. In a statement following the Series B raise, Nomic said it has seen “surging demand” and has since built “industrial-scale facilities” to offer its protein profiling service.
Feature image courtesy Nomic Bio.
