BrightSpec, Inc. Announces Series B Financing

Charlottesville, VA– March 1, 2019–BrightSpec, a life sciences instrumentation company offering fast, precise analysis of trace level chemical components, announced a $2.3 million Series B financing. The financing was led by MedVest Capital, and included participation from the University of Virginia Licensing and Ventures Group Seed Fund. Proceeds will be used to support corporate development and a new product launch.

BrightSpec is the first company to bring to market a line of spectrometers based on molecular rotational resonance (MRR) spectroscopy. MRR enables continuous reaction monitoring for a range of complex chemical attributes that are critical in pharmaceutical and industrial applications. The company was founded based on work conducted at the University of Virginia.

“This financing supports BrightSpec market development for process R&D and process control applications in key pharmaceutical and industrial sectors,” commented founder and CEO Robert Lloyd. He added, “Several recent studies using MRR for analysis of impurities in small molecule active pharmaceutical ingredients (API) will be published in major peer reviewed scientific journals and presented at a series of conferences in the US and Europe later this year.”

“Medvest is excited to invest in the advanced capabilities that BrightSpec offers for medicinal chemists who seek to better understand the optimal route to building new small molecule pharmaceuticals, and to identifying impurities in existing drug manufacturing processes,”Dave Cash, Managing Partner of Medvest Capital.

About BrightSpec, Inc.

BrightSpec delivers solutions for identification, quantification and structure analysis of complex chemical mixtures for applications in R&D, pharmaceuticals, fine chemicals, food, and advanced manufacturing sectors. BrightSpec received research funding from the US ARMY and the National Science Foundation, and the Virginia BioHealth Research Corporation. For more information, please contact Justin Neill (CTO) or Bob Lloyd (CEO) at 434-202-2391, or visit www.brightspec.com.