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[Funding alert] MA-based Spear Bio Secures Tens of Millions of US dollars in Seed Funding

MA-based Spear Bio secures Tens of millions of US dollars in seed funding. The oversubscribed round was led by CDH Investments, with additional investments from earlier investors such as Maverick Ventures and YongHua Capital.

MA-based Spear Bio secures Tens of millions of US dollars in seed funding. The oversubscribed round was led by CDH Investments, with additional investments from earlier investors such as Maverick Ventures and YongHua Capital.

Read also – San Francisco-based Every.io Secures $9.5M in Seed Funding

The high specificity of SPEAR’s protein-to-DNA conversion combined with the exponential amplification of qPCR produces an extremely high signal-to-background ratio.

Professor Peng Yin, Co-founder of Spear Bio, said “The SPEAR platform’s unique mechanism designed by Dr. Xuan achieves extreme sensitivity without the complexity typical of “single-molecule” technologies. SPEAR’s ability to quantify proteins at attomolar levels from sub-microliter sample will impact not only how protein biomarkers are measured clinically today but also how new ones will be discovered in the future. We hope Spear Bio can enable this technology to quickly benefit the research community and patients.”

Dr. Feng Xuan, Co-founder and Chief Technology Officer of Spear Bio, stated “Our first goal is to bring SPEAR to every lab, and make it as routine as established technologies like ELISA and chemiluminescence. SPEAR’s extreme sensitivity will provide a unique solution for studying early-stage disease protein biomarkers with minimally-invasive micro-sampling technologies. With its ease of adoption, SPEAR will greatly accelerate new biomarkers’ discovery and validation, and eventually bring about early diagnoses of chronic diseases through less invasive, more efficient, and broadly accessible protein biomarkers monitoring.”

Spear Bio has successfully launched NAB-Sure™, its first assay and commercial proof-of-concept, for ultrasensitive quantification of SARS-Cov-2 neutralizing antibodies from challenging samples such as finger-stick dried blood spot (DBS) and nasal swabs.

Read also-  NYC-based Hang Secures $9.2M in Series A Round Funding

During the pandemic, NAB-Sure has been validated and adopted in major labs, enabling precise tracking of immunity, vaccine response, and COVID-19 sero-surveillance. Spear Bio is now focused on bringing ultrasensitive immunoassays to the market for areas such as neurology, immunology, and oncology.

Dr. Dan Liu, Senior Partner of CDH Investments commented “Providing ultra-sensitivity in microsamples with a simple workflow through qPCR instruments is a very attractive solution since these are now nearly ubiquitous post-COVID. This will help accelerate adoption and increase impact to areas where ultra sensitivity and microsamples can make a significant difference such as infectious diseases, immunology, and neurology. For example, recently approved Alzheimer’s Disease therapies, together with the many in development, are creating a need for accurate, minimally invasive, and cost-effective blood-based screening. Spear Bio can meet this new market demand better than competitors.”

David Singer, Managing Partner of Maverick Ventures, and Spear Bio’s earliest investor, concluded, “Spear Bio’s technology was validated and adopted early on by major commercial laboratories. Excitingly, customers have been enthusiastic about the performance of the SPEAR platform as well as with the ability to implement it at scale on standard lab equipment. This real-world evidence gave us confidence in Spear Bio’s commercial potential and momentum.”

About Spear Bio

Spear Bio was co-founded in March 2021 as a spin-off from Harvard University’s Wyss Institute by Professor Peng Yin and Dr. Feng Xuan. The company is developing the next generation ultrasensitive immunodiagnostics and proteomics platform based on a breakthrough technology its founders developed and licensed from Harvard University: the Successive Proximity Extension Amplification Reaction, or SPEAR.

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