Carterra closes financing round for continued growth of the LSA platform for next generation antibody dscovery.
Carterra has closed a $6M round of financing led by Ballast Point Ventures with participation from current investor, Telegraph Hill Partners. The additional funding will support the continued adoption of the innovative Carterra LSA high-throughput Surface Plasmon Resonance (HT-SPR) antibody screening platform and the development of new products and applications.
The Carterra LSA is said to revolutionise the drug discovery process by enabling higher information content assays earlier in the discovery process—during antibody screening. The LSA can measure binding kinetics and affinities of hundreds of interactions in parallel and perform comprehensive epitope binning experiments on up to 384 antibodies simultaneously. By conducting detailed antibody characterisation during screening, the Carterra LSA increases the efficiency and productivity of lead selection and reduces costs during drug discovery and development.
“Carterra’s proprietary technology addresses a key objective of the pharmaceutical industry by helping to minimsze the time it takes to develop new therapeutics,” said Matt Rice, Partner at Ballast Point Ventures. “We’re excited to provide resources and guidance as Carterra continues its growth.”
Carterra has seen rapid uptake of its LSA platform among large pharmaceutical companies, biotechs, contract research organizations, and academic labs since its launch in late 2018. “We are honored to work with Ballast Point Ventures and Telegraph Hill Partners in our mission to help scientists push the boundaries of scientific discovery.” said Carterra CEO, Josh Eckman. “Researchers are seeing how the Carterra LSA can significantly shorten the lead selection timeline and provide insights that were not previously possible.”
Image credit: Riccardo Annandale