BioScale Inc. closed out its $25 million equity round with a contribution from Morningside Venture.
The Cambridge, Mass.-based life science tools company initially pulled in $16 million, according to a Securities & Exchange Commission filing, and added another $9 million with the help of Hong Kong-based Morningside, according to a press release. New Science Ventures, WFD Ventures, F2 Ventures and several individual investors also ponied up, according to the release.
Three MIT professors founded the company in 2002 (its headquarters are on the edge of the university’s campus). It’s developing a platform of bioscience tools that enable ultra-sensitive and reproducible measurements. The company said it plans to use the cash to commericalize its ViBE BioMEMS-based acoustic membrane and microparticle technology.
BioScale CEO Mark Lundstrom, Dr. Paul Billings, Edward Crawley, Bard Geesaman and Somu Subramaniam were all listed on the SEC document as directors. Monringside’s Dr. Isaac Cheng was also named as a director on the filing, but is not listed on the board of directors on the company’s website. Forty-two individuals invested in company during the offering, according to the SEC filing.