San Francisco, CA: Fluxion Biosciences, a privately held drug discovery tools company, announced that it has completed a Series B financing of $6.85 million. The funds, invested by Kodiak Venture Partners, Claremont Creek Ventures, and first round investors Life Science Angels and North Bay Angels, will enable Fluxion to accelerate development and commercialization of the company’s products addressing a range of applications in single-cell biology.

Jeff Jensen, Fluxion Biosciences CEO, stated “we are delighted to have Kodiak and Claremont Creek as our first institutional investors. Both firms have a great track record and strong operating experience in the drug discovery market, and their support validates the tremendous progress we’ve made.”

Andrey Zarur, Ph.D., who led the round for Kodiak Venture Partners and joins the company’s Board of Directors, stated “The drug development market needs accurate, repeatable assays performed in cells, and running experiments in single cells is clearly a better way to go than doing experiments in whole cell populations. Fluxion’s platform is able to perform extremely well-controlled experiments that are very reproducible and accurate, yet they have highly multiplexed well-plate format which takes advantage of billions of dollars invested in lab automation and reduces the cost of drug development on a per-experiment basis.”

John Steuart, Managing Director of Claremont Creek Ventures will also join the Board of Directors. Steuart indicated that the company’s technology was an ideal fit with their investment strategy. “Fluxion has demonstrated that there is a significant demand for their products, and they’ve assembled a great team to execute on their strategy. This is clearly a case where the technology delivers real value to customers, as opposed to having a technology seeking applications. Their initial products have achieved rapid traction and they have a number of exciting new applications in development.”

Fluxion is currently shipping its BioFlux system for cellular interaction analysis, which is being used in research and drug discovery in disease areas including cardiovascular, inflammatory, and bacterial infections. The company’s IonFlux system for ion channel screening is currently in use with early access customers. The Series B investment will be used to scale up manufacturing, expand sales and marketing, and accelerate the development and launch of the IonFlux high throughput system and other products for high throughput single-cell analysis.

About Fluxion Biosciences
Fluxion Biosciences develops cellular analysis tools for use in critical applications in life sciences research and drug discovery. Fluxion’s proprietary microfluidic platform, CellFlux, enables precise functional analysis of individual cells in a highly multiplexed format. Products include the BioFlux System for biofilm and cellular adhesion assays, IonFlux System for cellular electrophysiology, and the CytoFlux System for stop-flow imaging cytometry. These products meet the rigorous demands of life science and drug discovery scientists by providing an intuitive, easy-to-use "operating system" for single-cell biology. For more information about Fluxion Biosciences, visit www.fluxionbio.com.

Contact:
Jeff Jensen, CEO
Fluxion Biosciences
384 Oyster Point Blvd. #6
S. San Francisco, CA 94080
(925) 518-7046
jeff.jensen@fluxionbio.com