Mills & Reeve advises Sphere Fluidics on £1.65m series A fundraising

Mills & Reeve has advised Cambridge-based life sciences company Sphere Fluidics Ltd on its recent £1.65m series A funding from a syndicate of investors.

Mills & Reeve has advised Cambridge-based life sciences company Sphere Fluidics Ltd on its recent £1.65m series A funding from a syndicate of investors.

The series A funding was led by new investor 24Haymarket and completed in two tranches, with the final tranche closing in May 2013. The syndicate included existing investors, as well as other new investors such as the University of Cambridge Enterprise Fund and a number of individual business angels from Cambridge and London.

With this new injection of cash, Sphere Fluidics — a spin-out from Cambridge University that has developed a platform for single cell analysis and characterisation aimed at boosting new stem cell therapy and biopharmaceutical discovery — intends to relocate to new premises, ramp up sales and expand its management resources.

The Mills & Reeve team was led by corporate finance partner Zickie Lim, assisted by corporate senior solicitor Pippa Pearce.

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