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MOBILion Raises $15.4 Million in Series A Financing

November 12, 2019

CHADDS FORD, Pa.--(BUSINESS WIRE)--Nov 12, 2019--

MOBILion Systems, Inc., a life science company developing an advanced analytical instrument platform that efficiently identifies the most challenging molecules to accelerate biologic drug development and improve diagnostic insights, today announced they raised $15.4 million in Series A financing.

The round was led by Agilent Technologies, with participation from IP Group Inc., Hostplus, Cultivation Capital, and iSelect Fund.

MOBILion, led by chief executive officer Melissa Sherman, PhD, intends to use the funds to support the development of their patented ion mobility separations technology, called Structures for Lossless Ion Manipulation (SLIM). This technology delivers unprecedented high-resolution, high-throughput analysis to the pharmaceutical industry to significantly enhance the characterization of biologic therapeutics and accelerate biomarker discovery.

MOBILion is commercializing SLIM technology-based products that are integrated with several industry-leading mass spectrometry platforms to dramatically advance the capabilities of current liquid chromatography-mass spectrometry (LC-MS) analytical workflows and efficiently reveal previously undetectable molecules. The SLIM technology can be integrated with LC-MS workflows to provide more robust analytical information, and for some applications, replace liquid chromatography, providing superior resolution, speed, ease-of-use, and greater instrument uptime. MOBILion is also developing an easier to use, operator-simplified stand-alone SLIM product that does not require integration with a mass spectrometer for translation to pharmaceutical quality control and diagnostic laboratories.

“Our products efficiently identify molecules that are indistinguishable with current separation techniques, and we are already working with a number of pharmaceutical collaborators to demonstrate value by addressing the problem of insufficient characterization of biologic therapeutics and by improving the drug development process as a whole,” said Dr. Sherman. She added, “by providing unprecedented resolution in combination with 1000 sample-per-week throughput, SLIM enables population-scale sample analysis to facilitate biomarker discovery and answer a myriad of biologic questions that other technologies do not have the capacity to address. This round of financing will get us one step closer to delivering a technology that will positivity impact how we diagnose and treat disease.”

In addition to expanding the team and advancing product development, MOBILion plans to advance their drug and diagnostic programs with biopharma and academic collaborators as well as generate fee-for-service revenue through their new applications development laboratory.

About MOBILion Systems, Inc.

MOBILion Systems is enabling advancements in disease diagnosis and treatment by commercializing instruments that improve multi-omic disease, drug, and biomarker discovery. Enhancing the study of the complement to genomics provides a better understanding of disease and drug target mechanisms and paves the way for earlier disease detection, more accurate diagnostics, improved treatment options for individual patients, and reduced healthcare costs. MOBILion’s instruments provide unprecedented speed and resolution, allowing rapid detection of clinically relevant molecules such as proteins, peptides, metabolites, glycans, lipids, etc., to accelerate biologic drug development and biomarker discovery. MOBILion’s instruments process population-scale samples in days vs. years and detect molecules never before seen with existing instrumentation, providing researchers and clinicians with the ability to better predict, diagnose and treat disease. The company is headquartered in Chadds Ford, Pennsylvania within the Philadelphia biopharmaceutical and medical innovation corridor.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191112005017/en/

CONTACT: Katie Spruance

MOBILion Systems, Inc.

media@mobilionsystems.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: BIOTECHNOLOGY SCIENCE HEALTH RESEARCH

SOURCE: MOBILion Systems, Inc.

Copyright Business Wire 2019.

PUB: 11/12/2019 08:00 AM/DISC: 11/12/2019 08:01 AM

http://www.businesswire.com/news/home/20191112005017/en