KIYATEC Announces Initial Close on Series A Funding Round
Greenville, SC – May 23, 2012 – KIYATEC Inc. today announced the initial close of its Series A funding
round. The financing was led by institutional investor Nexus Medical and Technology Capital (Greenville,
SC and Quincy, MA) and Greenville, SC based Upstate Carolina Angel Network, and included additional
private investors. Contingent with this close, SC Launch and other debt investors now have equity
positions in the company. Proceeds from the initial financing will be used to advance two 3D cell?based
assays for more predictive evaluation of cancer efficacy and certain kinds of liver toxicity for drug and
“Pharmaceutical and biotech companies will soon benefit from KIYATEC’s ability to incorporate
perfusion and segregated co?culture into in vitro models, and the resulting increase in sensitivity and
predictive capability.” said Matt Gevaert, the company’s CEO. “The ability to detect a compound that
would otherwise fail in clinical trials, before it is used in humans or tested in animals, yields huge
benefits. Patients and doctors can focus more precious time and energy on future winners, resulting in
significant cost reductions for both the industry and our health care system. Data confirms that perfused
3D co?cultures are superior in vitro models – the additional complexity makes them more like our bodies
– but prior to our 3DKUBE™ platform, this type of experiment was not convenient or cost effective.”
KIYATEC has already brought its 3DKUBE™ to market and is experiencing initial buy?in from the relevant
research community. It offers a complete disposable “flow circuit” – all the components necessary for a
perfused 3D co?culture experiment – for less than $30. The company’s contract service arm also
currently provides cell?based testing services to medical device companies looking for more relevant
characterization of cell?material interactions for regulatory applications, quality control or product
development. The extension of KIYATEC’s contract services to pharmaceutical and biotech companies
for preclinical evaluation of drugs and biologics builds on these existing activities.
“We are excited to invest in the team at KIYATEC,” said Gregory Zaic of Nexus. “We have been following
their progress for some time and, based on the company’s achievements, we felt that the time was
right. We hope that our financial support and access to Nexus’s relationships in the US and in Europe
will contribute to their future success.”
“The SCRA Technology Ventures’ SC Launch program congratulates Matt and the entire team at KIYATEC
for their recent investment funding,” said SCRA CEO Bill Mahoney. “Our program has mentored and
helped connect the company throughout its early to mid?stage development over the past four years.
We are moving forward to convert our all of our investment in KIYATEC into a meaningful equity
position. We are delighted to have an ongoing relationship with KIYATEC and look forward to their
KIYATEC Inc. is a life sciences company enabling better in vitro models of complex human biology
through perfused 3D cell?based assays and enabling products. Its 3DKUBE™ technology platform
conveniently and cost effectively incorporates perfusion flow, accommodates all scaffold materials,
allows in situ imaging, models complex human biology using segregated cell co?culture, and is a singleuse
disposable. 3DKUBE cell?based assays leverage these features to create better in vitro prediction of
complex biochemical responses in humans, with a focus on evaluation of drug toxicity and efficacy prior
to use in human clinical trials.
Discover. Develop. Diagnose.™ KIYATEC 3D Cell Culture Delivers.
About Nexus Medical & Technology Capital (NMT Capital)
Nexus is a leading private equity firm focused on emerging medical companies in North America and
Europe. KIYATEC is Nexus’s 11th investment in South Carolina. Other SC?based investments include Lab
21, Zipit Wireless, Spectra Analysis and Sabal Medical. Nexus has offices in Quincy, Massachusetts and
Greenville, South Carolina.
SCRA is an applied research corporation with over 29 years of experience delivering technology solutions
with high returns on investment to federal and corporate clients. To fulfill our mission, SCRA has three
sectors: Our Technology Ventures sector helps early?stage companies to commercialize innovations and
create jobs, our Applied R&D sector manages over 100 national and international programs worth over
$1.5 billion in contract value and our R&D Facilities sector builds and manages research facilities that
include wet labs, secure rooms for sensitive work and advanced high?tech manufacturing shops.
Multiple economic impact studies show SCRA’s cumulative impact on South Carolina’s economy to be
over $14 billion.
The Upstate Carolina Angel Network, LLC (UCAN) is a group of accredited investors located in Upstate South Carolina who invest in and support start-up and early-stage, high-growth businesses in the Southeastern United States. Our members possess a broad array of business experiences and skills they bring to bear in helping to screen and evaluate potential portfolio companies. They also serve as a valuable resource for guidance and advice to entrepreneurs and their businesses once an investment is made. Since its inception in 2008, UCAN has invested $5.6 million in 22 companies.