Allied Minds Finances Harvard-Northeastern Startup
In March, we wrote about local investment firm Allied Minds, which has a strategy of investing very early in technology developed in university research labs. Today, Allied Minds announced that it has invested in CryoXtract, a startup launched by researchers from Harvard University and Northeastern University.
The inventors of the technology around which CryoXtract was formed, Dale Larson and Jeffrey Ruberti, have developed a new way to take out small portions of frozen liquid biological samples like whole blood or sperm. Instead of first thawing the liquid, withdrawing a part of it, and the refreezing it, Cryoxtract uses a very small, hollow drill to extract a frozen core. This avoids the risk of degrading the samples by repeated thawing and refreezing and takes less time to carry out.
“We are looking for cutting-edge technologies, and this one is quite enabling, there’s nothing remotely similar in the market,” Allied Minds director Vincent Chung told Xconomy. “The market opportunity includes any organization that has a need to take aliquotes [small portions] from frozen samples.”
According to CryoXtract’s webpage, there are more than 500 million stored frozen biological samples in the U.S.. So while the samples are small, the market seems big.
Trending on Xconomy
By posting a comment, you agree to our terms and conditions.