Nevada Center for Applied Research (NCAR) graduate, Bioelectronica® Corporation, applies new round of venture funding to expand hiring and innovation in digital biochemistry

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RENO, Nev., March 2, 2021 /PRNewswire/ -- Bioelectronica Corporation ("Bioelectronica") announced today the addition of new members to their team in Reno, NV, as the company continues to experience growing interest in their drug discovery platform, Hypercell®. The company recently reached critical milestones and received venture funding from Proxima Ventures. As it expands, Bioelectronica has been fortunate to interview and hire qualified life sciences candidates from the local talent pool. Local job creation is a result of years of work and initiative funding by the State of Nevada to promote innovation, economic development and workforce development, especially at NCAR, located on the campus of the University of Nevada, Reno.

Bioelectronica incubated at NCAR, an exceptionally well-equipped wet bench facility for emerging early-stage startups, before graduating and expanding to their new corporate headquarters in Reno. Initially occupying just a single bench, Bioelectronica is a Nevada biotech success story that illustrates the benefits of planning and investments in science, technology and education. The company continues to maintain a close connection to the University and NCAR as they advance innovations with their beachhead product Hypercell®, the first system to facilitate single cell sorting and drug discovery using Computer Vision Single Cell Sorting (CVSCS).

"Bioelectronica blends innovation, science and technology, and represents an emerging biotech presence in our region. It was a pleasure to see this company successfully scale-up on the University of Nevada, Reno campus through our Nevada Center for Applied Research, and they continue to work with us. This is an example of business and economic development being supported by the Nevada Knowledge Fund and the Governor's Office of Economic Development," said Carlos Cardillo, director of the Nevada Center for Applied Research.

"We plan to put Reno and the State of Nevada on the map for Biotech. The Governor's Office of Economic Development and the Nevada Knowledge Fund have created a powerful waterfall effect through their support of NCAR. Nevada startups like Bioelectronica sit in an innovation ecosystem fostered by NCAR. We are able to provide employment opportunities to graduates through jobs creation and in turn, source qualified candidates in the life sciences to support our growth. In short, we could not have advanced this quickly without NCAR," said Jonathan Hull, CEO and co-founder of Bioelectronica.

In an industry where startup failure rates are high, due in large part to the capital-intensive nature of biotech, Bioelectronica has been able to prove out their technology because of programs such as the Nevada Knowledge Fund and NCAR's incubator. Hypercell® is now being used in labs globally to accelerate early-stage drug discovery and development.

About Bioelectronica
Bioelectronica® is a research-stage biotechnology company building intelligent, digital tools for drug discovery, cell screening and cell sorting. Bioelectronica's platform technology combines computer vision, biochemical reagents and consumer electronics to accelerate discovery. We believe that by transforming biochemistry through digital innovation, we fundamentally change the speed and price of therapeutics discovery and development. For more information on how your workflow can benefit from Bioelectronica's step change innovation, reach out to Jonathan Hull at hello@bioelectronica.com. Bioelectronica® and Hypercell® are registered trademarks of Bioelectronica. Hypercell® is For Research Use Only.

Forward-Looking Statements
This release may contain forward-looking statements within the meaning of the federal securities laws, including statements regarding Bioelectronica's future plans and the potential of its CVSCS system. Important risks and uncertainties that could cause actual results to differ materially from our expectations include, among others, risks related to general economic conditions and customer preferences. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

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SOURCE Bioelectronica