Bioelectronica Announces Hypercell™ Expansion for Antibody Discovery, Closing of Oversubscribed Series A Financing, Powering Local Hiring Growth and Expansion of Facilities in Reno

Bioelectronica® Corporation announced today that it has secured an undisclosed amount in its Series A financing round due to increased interest in Hypercell™, a new hardware tool that can be used to discover new antibodies using computer vision, which are industrially and technologically timely and relevant. This is proven by Hypercell's recent win of an industry award at ISAC, a leader in flow cytometry. The judges and audience unanimously agreed that Bioelectronica's approach was the most innovative compared to its' peers.

"One way to think of Hypercell™ and digital biology is as a video-game console, in which researchers can use software programming to develop new software-controlled workflows for biopharma applications like antibody discovery and other functional assays for biopharma applications" said Jonathan Hull, Co-Founder and CEO. "I personally like analogies with Nintendo® because I'm a Tetris fan, but that's subjective.", said Hull.

The funding has accelerated Bioelectronica's path and advanced plans to open a third research site in Nevada, effectively increasing the Company's laboratory space and engineering capacity by 45% and 70%, respectively. It also allowed the Company to continue to grow their team. Since January 2020, Bioelectronica has grown their team by 56%. The Company has been actively hiring top local talent in Reno, with 62% of all employees recruited from the University of Nevada, Reno. This milestone is a major move for Bioelectronica on its mission to develop Hypercell®, a next-generation platform that uses patent-pending electrofluidic hardware, reagents and data science to expedite biopharma discovery and production workflows.

"As one of the fastest growing local biotech startups, we have been focused on hiring the best local talent," says Hull. "As we continue to grow our team, we increased our operational footprint with a new facility and are investing in employee growth and development to ensure that they are geared for success."

"It's been amazing seeing the growth trajectory of Bioelectronica," says Orlando Gonzalez, U.S. Army Captain (ret) and Advisor to Bioelectronica. "The company continues to sustain operational growth and has promoted an excellent team culture. This is evidenced by the Company's quarterly leadership development workshops, which have given me a true opportunity to engage with the team. This team has tremendous potential to take Bioelectronica to the next level."

New hires include talent technical and commercial talent from Hamilton robotics, VWR and Europhins. Roger Chen, Founder and CTO, was previously at Roche and is a successful founder and entrepreneur. Hull commented, "I'm very proud of our team, and am optimistic about our reach into the research market in the coming years. Our culture is to train and promote from within, and it's already paying off. Our team is outstanding."

The company is exploring offices in Asia and Europe to keep pace with the fast-growing demand for research and new antibodies due to the pandemic. "While Reno has been a great place to incubate, we may need to consider new offices. We hope to soon begin work on new cell therapies, provided we can secure the growth-capital that we need to continue to expand at this pace" says Hull.

About Bioelectronica

Bioelectronica® is a research-stage biotechnology company building intelligent, digital tools for biopharama discovery, cell screening and cell sorting. Bioelectronica's platform technology combines computer vision, biochemical reagents and consumer electronics to enable unique software-controlled workflows. We believe that by transforming biochemistry through digital innovation, we fundamentally change the speed and price of therapeutics discovery and development.