Financing from Telegraph Hill Partners provides growth capital for launch of Aquaro ASM for automated tissue section mounting in pathology applications.
Ann Arbor, MI: Aquaro Histology, Inc. (formerly known as Aquaro Biosystems, LLC) announced today the completion of a Series A funding round of $9.8 million led by Telegraph Hill Partners. This investment will enable Aquaro Histology to launch its first product, the Aquaro ASM™ (Automated Section Mounting), expand the company’s commercial efforts, and support and grow its research and operational organization.
The Aquaro ASM facilitates hands-free microtomy in histology laboratories by transferring paraffin-embedded sections from the blade to slides. The system interfaces with existing motorized microtomes, allowing the ASM to be integrated into current histology laboratory workflows. The Aquaro ASM relaxes sections at a user-controlled temperature and time, which yields greater standardization and consistency of sectioning. Sections can be placed on the top, middle, or bottom of the slide, and can be mounted serially or from different levels of the block. As the Aquaro ASM uses circulating filtered water and only one section is floated at a time, the system reduces the risk of cross-contamination and sections being placed on the wrong slide.
By automating section cutting, relaxing, and mounting on slides, the Aquaro ASM reduces the need for constant attention from a histologist. Histologists can focus on less repetitive tasks, or supervise several microtomes at once. Laboratory managers can better allocate resources, and laboratories can benefit from less contamination, increased productivity, and enhanced safety including fewer repetitive motion injuries.
Concurrent with the financing, Tom Raffin, M.D., Deval Lashkari, Ph.D., and Rob Hart, J.D., all members of Telegraph Hill Partners, joined Aquaro Histology’s existing Board of Directors, Executive Chairman Jack Ball and CEO Alberto Elli.
”The Aquaro ASM represents a powerful, automated tool for the histologist. We look forward to bringing our technology to the market and the funding and experience from Telegraph Hill Partners will enable us to complete our mission,” said Aquaro Histology CEO Alberto Elli.
“We are excited to move forward with additional resources to support our customers,” said Jack Ball, Executive Chairman. “We aim to become leaders in providing tools to histology laboratories to improve quality, efficiency, and safety – starting with the Aquaro ASM. With this round of funding and an experienced Board of Directors, we are poised begin accomplishing these goals.”
About Aquaro Histology: Aquaro Histology is an Ann Arbor, MI-based company that develops user-centric products for the histology laboratory. The company’s first product, the Aquaro ASM, automates microtomy, not just the microtome, by transferring sections from the blade to slides. For more information, or to contact us: www.aquarobio.com or 734-627-8124.
About Telegraph Hill Partners: Telegraph Hill Partners is a San Francisco, CA based venture capital and growth equity firm dedicated to helping life science, medical device and healthcare companies achieve their growth objectives. More information is at www.telegraphhillpartners.com.