Cytek Biosciences Closes $120M Series D Funding

Cytek Biosciences Inc., a Fremont, Calif.-based provider of cell analysis instrumentation and solutions, closed a $120m Series D funding round.The round was co-led by RA Capital and Hillhouse Capital, with OrbiMed and LYFE Capital also participating. Additionally, RA Capital and Hillhouse Capital have joined Cytek’s board of directors.

The company intends to use the funds to expand its global infrastructure, sustain growth and deliver on its technology platform to offer expanded support for key areas of study such as immunotherapy, immuno-oncology and infectious diseases such as COVID-19.

Led by Dr. Wenbin Jiang, CEO, Cytek Biosciences is a flow cytometry solution provider that develops compact, affordable instruments with high multiplexing capability and a wide range of services to support scientists and clinicians. The company also offers proprietary cFluor™ reagents, which ensure optimal performance for users of its instruments in a multicolor environment.

In August, Cytek launched its cFluor line of reagents for its Aurora and Northern Lights cytometry systems. About a year ago, the Fremont, California-based company updated the Aurora instrument, which it said can run beyond 40-color panels.

RA Capital is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies that are developing drugs, medical devices, and diagnostics. The flexibility of its strategy allows RA Capital to provide seed funding to startups and to lead private, IPO, and follow-on financings for its portfolio companies, allowing management teams to drive value creation from inception through commercialization.