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Pharma Tech Outlook | Tuesday, May 25, 2021
Atonarp has announced that it has raised $50 million in Series D funding led by WRVI Capital.
FREMONT, CA: Atonarp, the top manufacturer of molecular sensing and diagnostics products for the healthcare, pharmaceutical, and semiconductor industries, announces that it had raised $50 million in Series D funding led by WRVI Capital. The new funding will enable the firm to increase its operations to meet growing customer demand in its existing markets and accelerate the development and commercialization of its molecular diagnostics products. Shaun Holt has been named as the company's new chief operating officer (COO).
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"Atonarp is developing the future of point-of-care molecular diagnostics testing," said Nicholas Brathwaite, founding managing partner of WRVI Capital and Board Chair of Atonarp. "As one of Atonarps first investors, we recognized early on that the company’s breakthrough molecular sensor technology could spur innovation across industries. With its seasoned team of technologists, Atonarp will continue to expand its first-in-class, proven, and transformational molecular sensor technology platform to new industries."
As the primary investor, WRVI Capital Founding Partner Michael Marks has been assigned to the Atonarps Board of Directors, joining Nicholas Brathwaite, who will continue to serve as Board Chair. Furukawa Electric, Japan Post Investment, Boscolo Intervest, ATI Korea, and Banner Industries are also investors participating in Atonarps Series D. To date, Atonarp has raised $111 million in funding.
"Atonarps goals are the same as ours," said Yoshio Masutani, corporate vice president of Furukawa Electric. "We are delighted to support a business whose technology has a myriad of applications, but most importantly can help people make proactive health decisions through Atonarps non-invasive diagnostic testing platform."
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Atonarp is a leader in the digital transformation of molecular diagnostics in the pharmaceutical, semiconductor manufacturing, industrial process control, and now the life sciences sectors. The organization detects, analyses, and quantifies molecular information using its proprietary spectroscopic technology. Atonarp provides a range of molecular diagnostics products, such as the ATON-360, an end-to-end platform that allows lab-quality results through optical sensors. Unlike conventional diagnostic and blood testing methods, which depend on chemistry and need large volumes of biological samples for processing, Atonarp analyses small sample sizes and produces a digital molecular snapshot without using chemistry or costly reagents.
Stanford University Professor Dr. Phyllis Gardner added, "Point-of-care-testing is the future for medical diagnostics, but the industry has been hampered by costly chemistry-driven panels that require large sample volumes and centrally based laboratories for processing. Atonarps molecular sensors scan and store an entire digital dataset from incredibly small sample amounts. This technology can support distributed point-of-care diagnostics, which is critical to achieving predictive and proactive healthcare practices, in turn, leading to better diagnoses, treatment, and outcomes for patients."
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