Tuesday, July 8, 2008

Cambridge investors pump $13M into Accuri Cytometers

By Mass High Tech Staff

Two Cambridge private equity firms, Flagship Ventures and Fidelity Biosciences, have led a $13 million third-round financing of life sciences company Accuri Cytometers Inc. in Michigan. The funding will help expand commercialization of the Accuri C6 Flow Cytometer System, a cell analysis tool used in biomedical research, according to company reports.

Baird Venture Partners and Arboretum Ventures also invested in the funding.

As part of the deal, Bahaa Fam, venture partner with Fidelity Biosciences, and Harry Wilcox, partner with Flagship Ventures, will join Accuri’s board of directors.

Flagship Ventures, founded in 2000, claims a portfolio of more than 40 companies and $600 million in early-stage funding to manage. Its investment participation ranges through three sectors: therapeutics, life science tools and diagnostics, and bio-energy/clean tech.

Fidelity Biosciences is a division of Devonshire Investors, the private equity investment arm of Fidelity Investments.