IsoPlexis, a company uncovering a ‘new layer’ of cell data, aims for $125M in market debut – TechCrunch

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Share IsoPlexisThe company, which is creating a tool to zoom in on the proliferation of protein activity surrounding a single cell, opened trading on Friday. The company aims to raise about $ 125 million in an IPO, which will be used to build a commercial team and advance the company’s plan to play a greater role in the creation of precision medicine.

Founded in 2013, IsoPlexis falls into the category of companies that may be found in the lab during the pharmaceutical research process. The company focuses primarily on single-cell proteomics (basically research on proteins and their interactions). The company has developed equipment and software to analyze proteins secreted by cells, from immune cells to tumor cells.

In particular, the device can be used to identify cells that excrete many different types of proteins. You can use these datasets to develop new therapies and understand how people respond to existing therapies.

“The device we invented can identify a subset of cells in the body called superhero cells,” explains CEO and co-founder Sean MacKay. “And these superhero cells are defined by many activities from a small subset of cells that are usually overlooked by existing technologies today.”

According to MacKay, there are about 150 IsoPlexis units on the market as of the first half of this year. Customers include 15 global pharmaceutical companies. Every SEC filing, Almost half of the comprehensive cancer centers in the United States

IsoPlexis has raised a significant amount of money from several prominent investors in the past.

Before the IPO, the company was about $ 205.5 million With funding per Crunchbase.latest Series D round Includes a total of approximately $ 135 million in funding (approximately $ 85 million in equity and $ 50 million in debt) from Perceptive Advisors, Ally Bridge Group, and BlackRock’s Funds and Accounts Participation is included.

Today, the price of shares was initially around $ 15 per share, but at the time of writing it has dropped to around $ 12.

A major part of the IsoPlexis treatise is that it is the first to use proteomics and single-cell biology to correlate cell function with patient outcomes. In other words, one of the first to show that by examining how individual cells interact with proteins, one might be able to see how well a person like a cancer patient would be. is.

Evidence has been published that IsoPlexis devices are used for this effect, especially when it comes to cancer treatment.

for example, One 2021 Nature medicine The study used IsoPlexis instruments to examine immune cell activity in patients with lymphoma. These patients had cancer that was refractory to treatment or that had recurred after remission. Specifically, they were receiving CAR-T cell therapy. This is a type of treatment that helps genetically engineered immune cells to be injected into a patient and target cancer cells there. Ultimately, in this study, cytokine production by these CAR-T cells (proteins involved in cell signaling) is an important indicator of how potent these CAR-T cells are in practice. I understand.

In essence, IsoPlexis devices have shown that they can help reveal signals that tell scientists how well CAR-T cell therapy works.

“What we have seen is that the unique cells we have identified represent a long-term response to the patient,” says Mackay. “We have published studies on various cancers. If patients have these types of unique immune cells, these superhero cells we have detected, those patients will have this long-term result. I know it will bring. ”

For those who are particularly interested in cell details, IsoPlexis technology may sound similar to flow cytometry. This is an established method of counting, identifying, and measuring specific cell characteristics. In the world of flow cytometry, there are large, well-established players like Thermo Fisher Scientific.

However, IsoPlexis claims that it can provide a whole new layer of information that flow cytometry misses, primarily protein-based information. The company has licensed an invention that allows the device to bar code the protein activity present in individual cells (now called IsoCode).one Nature Review Chemistry Paper suggests The barcode is useful because it can analyze many different proteins at once across thousands of cells, and the cells can be recovered and used in other experiments, but this technology captures only part of the overall action of the proteome. Because it can’t be done. far.

“The new data layer in each cell is very different from the technologies currently on the market,” adds MacKay.

Still, there is still a long way to go before the company makes money. According to SEC documents, the company has been losing money for the past few years. The company generated $ 7.5 million in 2019 and $ 10.4 in 2020, with losses of approximately $ 13.6 million and $ 23.3 million in those years, respectively.

Going forward, the path to growth primarily means putting more equipment into the hands of more researchers.

“Our goal is to expand deeper into the same types of customers as we do today and keep moving forward with quick clips, which is really about continuing to build a commercial team,” he says. increase.

IsoPlexis, a company uncovering a ‘new layer’ of cell data, aims for $125M in market debut – TechCrunch Source link IsoPlexis, a company uncovering a ‘new layer’ of cell data, aims for $125M in market debut – TechCrunch

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