Parse Biosciences Closes $50 Million of Financing to Fuel Continued Worldwide Growth

Rhea-AI Summary

Parse Biosciences (HRZN) secures $50 million in financing to expand single cell sequencing solutions and serve academic, biotech, and pharma customers. The funding, led by Soleus Capital, will drive the company's product portfolio and commercial reach, bringing total funding to over $100 million.

Funding will drive expansion of company’s product portfolio and commercial reach

SEATTLE--(BUSINESS WIRE)-- Parse Biosciences, a leading provider of accessible and scalable single cell sequencing solutions, today announced it has closed a total of $50 million in financing from a Series C equity raise and the closing of a debt facility. Soleus Capital led the Series C equity financing, which included participation by new and current investors including Bioeconomy Capital, Janus Henderson Investors, Marshall Wace, Sahsen Ventures, and Saras Capital. Horizon Technology Finance Corporation (Nasdaq: HRZN) provided the debt facility.

Bringing the company’s total funding to over $100 million, this financing will enable Parse to fuel its expansion, further scale to meet the increasing demand for its technology, and continue to serve its academic, biotech, and pharma customers.

Empowering researchers to perform single cell sequencing with unprecedented scale and ease without the need for custom instrumentation, Parse’s single cell portfolio includes Evercode™ Whole Transcriptome, Evercode TCR, Evercode Cell Fixation, Evercode Nuclei Fixation, Gene Capture, CRISPR Detect, and data analysis solutions.

“Customer response to our products has been extraordinary, with researchers around the world leveraging our technology to make significant scientific advances,” said Parse CEO and co-founder Alex Rosenberg, Ph.D. “The resounding support from investors will further our mission to make scalable single cell projects routine. We're especially excited to continue supporting many of the large-scale programs happening within biopharma.”

“Parse’s unique technology is enabling investigators to conduct groundbreaking research and expand the overall genomics market,” said Soleus Capital partner David Canner. “We are proud to partner with Parse and its management team as the company grows into a preeminent player in the genomics space.”

The pioneering approach and inherent scalability of Parse's technology have led to critical discoveries across a wide range of research areas, addressing researchers’ questions more comprehensively than other single cell products. In a relatively short time span, Parse has broadened its foundational Evercode technology to empower researchers to expand to new applications such as immune profiling and pooled CRISPR screens.

“Parse’s transformative technology is paving the way for single cell sequencing to significantly innovate and enhance human health research and treatments,” said Gerald A. Michaud, President of Horizon. “We are excited to support Parse as it develops new genomic solutions and further expands its operations.”

Since its first launch in 2021, Parse’s products have been widely adopted across the world’s leading pharmaceutical companies and research universities and institutions. The company’s products are now available in a growing number of key international markets, including Australia, Europe, India, Israel, New Zealand, Singapore, and South Korea.

About Parse Biosciences

Parse Biosciences is a global life sciences company whose mission is to accelerate progress in human health and scientific research. Empowering researchers to perform single cell sequencing with unprecedented scale and ease, our pioneering approach is enabling groundbreaking discoveries in cancer treatment, tissue repair, stem cell therapy, kidney and liver disease, brain development, and the immune system.

Founded based on a transformative technology invented at the University of Washington, Parse is used by over 1,000 labs across the world. Our growing portfolio of products includes Evercode Whole Transcriptome, Evercode TCR, Gene Capture, and a software tool for data analysis.

Headquartered in Seattle, Washington's vibrant South Lake Union district, Parse Biosciences recently opened a 34,000 square foot headquarters and state-of-the-art laboratory.

About Horizon Technology Finance

Horizon Technology Finance Corporation (NASDAQ: HRZN), externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S. Monroe Capital is a $17 billion asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity. To learn more, please visit horizontechfinance.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231214617151/en/

For Parse:

Jay Roberts, SRPR

jay@shevrushpr.com | 917.696.2142

For Horizon:

Chris Gillick, ICR

HorizonPR@icrinc.com | 646.677.1819

Source: Parse Biosciences

FAQ

What is the latest financing secured by Parse Biosciences?

Parse Biosciences has closed a total of $50 million in financing from a Series C equity raise and the closing of a debt facility.

Who led the Series C equity financing for Parse Biosciences?

Soleus Capital led the Series C equity financing for Parse Biosciences, with participation by new and current investors including Bioeconomy Capital, Janus Henderson Investors, Marshall Wace, Sahsen Ventures, and Saras Capital.

What is the purpose of the financing for Parse Biosciences?

The financing will enable Parse to fuel its expansion, further scale to meet the increasing demand for its technology, and continue to serve its academic, biotech, and pharma customers.

What products are included in Parse Biosciences' single cell portfolio?

Parse's single cell portfolio includes Evercode™ Whole Transcriptome, Evercode TCR, Evercode Cell Fixation, Evercode Nuclei Fixation, Gene Capture, CRISPR Detect, and data analysis solutions.

Where are Parse Biosciences' products available?

Parse's products are available in a growing number of key international markets, including Australia, Europe, India, Israel, New Zealand, Singapore, and South Korea.