Israel-based biotechnology company, Accellix has announced that it has roped in a $10 million investment from BroadOak Capital Partners which will be used to strengthen its commercial resources and infrastructure development, aiding cell therapy customers.

Accellix offers a suite of quick and high-accuracy flow cytometry results via easy-to-use and compact platform notably designed for cell therapy company users on the manufacturing floor as well as at the point-of-need customers.

Imperative to note, BroadOak has a broad expertise in flexible growth capital coupled with M&A advice catering to life sciences tools and services companies.

BroadOak’s recent investment in Accellix is apparently a part of the former’s fifth fund and underpins its third investment within last six months in the constantly growing tools and services market for cell and gene therapy development and manufacturing.

Following the initial investment in the biotech company, BroadOak noticed successful execution by Accellix in market-leading products development, stated Bill Snider, Partner at BroadOak Capital Partners.

Adding to the statement, Mr. Snider quoted that BroadOak looks forward to strengthening the partnership as Accellix emerges as the gold standard for cell therapy companies in cell phenotyping.

Nir Nimrodi, Chairman and CEO of Accellix, mentioned that the investment builds upon the company’s plans to propel commercial and development efforts.

Mr. Nimrodi claims that Accellix has acquired 10 times larger customer base in last 2 years, wherein some have already incorporated their commercial GMP manufacturing processes with Accellix Platform.

Meanwhile, Accellix will continue with infrastructure focused investments in order to support customer needs.

Highly potent cell therapies progressing towards late stage clinical development as well as commercial products are fueling the need for a streamlined and continuous quality-control process management.

Accellix addresses the exact need providing products that streamline complex yet vital part of cell analysis, offering more reliable and solid outcomes with reduced QC costs in cell therapy manufacturing.

Source Credits: https://www.businesswire.com/news/home/20211213005247/en/Accellix-Raises-10-Million-From-BroadOak-Capital-Partners