#USA #Fremont #Alamar Biosciences #Precision Proteomics #Stephen Williams

Alamar Biosciences Successfully Completes Financing Effort

In a significant advancement for precision medicine, Alamar Biosciences, Inc. has announced the successful closure of an oversubscribed convertible notes financing round, raising more than $50 million. This funding marks a critical financial milestone, enabling Alamar to continue its dedication to the early detection of diseases through its innovative precision proteomics platform.

The financing round saw participation from both new and existing investors. Notably, T. Rowe Price Investment Management, Inc. and Braidwell LP joined the ranks as new contributors, while notable existing investors such as Illumina Ventures and Sands Capital also participated. This influx of capital is poised to support the commercial development efforts of Alamar’s precision proteomics platform, an initiative that aims to enhance disease detection and improve health outcomes.

Dr. Yuling Luo, the founder and CEO of Alamar, expressed gratitude to all investors, stating, "We deeply appreciate the continued support of our existing investors and welcome our new partners. Their trust in our vision underscores the transformative potential of our work. This investment will enable us to accelerate innovation and expand the reach of our platform to unlock the full value of precision medicine and disease detection."

Leadership Expansion

In conjunction with the financing, Alamar Biosciences announced a strategic expansion of its leadership team to drive future growth and operational excellence. Dr. Stephen Williams has been appointed as the Chief Scientific Officer. With over 30 years of experience in precision medicine and biomarker innovation, Dr. Williams previously held a prestigious role as Chief Medical Officer at Standard BioTools and SomaLogic. His notable background also includes over 18 years in senior positions at Pfizer. Throughout his career, he has been recognized as a thought leader, serving on the NIH National Advisory Council for Biomedical Imaging and Bioengineering and co-founding initiatives such as the Alzheimer’s Disease Neuroimaging Initiative.

Additionally, Rebecca Chambers and Dr. Frank Witney have been appointed as new board directors. Chambers, currently serving as the Chief Financial Officer at Veracyte, brings extensive experience from her previous roles at Outset Medical, Illumina, Myriad Genetics, and Life Technologies. Meanwhile, Dr. Witney, an operational partner at Ampersand Capital Partners, has over 30 years of leadership experience in the life sciences sector, having served as President and CEO of Affymetrix and Dionex Corporation. He is also involved in several boards of companies focused on innovative biotechnology solutions.

Dr. Luo emphasized the importance of these appointments, stating, "We are delighted to have Steve join our leadership team and welcome Rebecca and Frank to our board. Their profound expertise and diverse perspectives will be invaluable in unleashing the power of our precision proteomics platform to make a significant impact on health and disease. This is an exciting time for Alamar, and we look forward to the influence that their leadership will have on driving innovation and growth."

About Alamar Biosciences

Alamar Biosciences is a privately held biotechnology company focused on developing precision proteomics technologies that allow for early disease detection. The company's cutting-edge platform leverages proprietary technologies, including NULISA™ and ARGO™ HT Systems, to achieve unprecedented sensitivity in disease detection and overcome existing technological limitations. For more information about Alamar and its groundbreaking advancements in precision medicine, please visit alamarbio.com.