Below is our recent interview with the President and CEO of Asymmetrex® LLC: James L. Sherley, M.D., Ph.D.
Q: You are currently working to raise your first Series A round of equity investment; tell us something more?
A: Knowledgeable people in the laboratory instruments commercial space tell us that, generally speaking, attracting investors in research tools companies like Asymmetrex® is hard. And they say, “With the recent retraction of U.S. government research funding, it has become even harder.” But from my experience purchasing many innovative new instruments during my previous career as a cancer cell and stem cell lead scientist, I know that a product that improves and simplifies the work of scientists like me can make savvy investors a lot of money when a new-type of instrument goes viral through laboratories because it improves something that many laboratories depend on for their work. One well-known example during my own time as a laboratory head is the polymerase chain reaction (PCR) machine. DNA sequencing machines are another.
We are raising $5M to finish commercial development and market launch of the new Asymmetrex SherlockTM instrument. The Sherlock automates, reduces the cost, and improves the culture of mammalian cells, including human cells. Not only are there many thousands of laboratories whose experiments, analyses, and products depend on cell culture, Asymmetrex has identified more than 60,000 of them by name. In our initial survey sampling to evaluate interest in notification when Sherlocks are ready for purchase, the response rate has been a remarkable 10%!
The Sherlock presents an even greater value to scientists and analysts whose focus is the tissue stem cells in samples. It is also the first, electronic, differential tissue stem cell counter. The Sherlock provides the first and only technology able to distinguish the number of many different types of curative tissue stem cells in a sample from non-curative, limited progenitor cells. Limited progenitor cells are always significantly greater in number than stem cells, obscuring the number of stem cells by other cell counting methods. The Sherlock’s “differential” tissue stem cell count is a critical determinant of the effectiveness of stem cell treatments that has eluded stem cell science and medicine for more than 60 years. With the Sherlock, counting tissue stem cells will become routine.
So, we are looking for investors who get the tremendous commercial potential of our opportunity to be another viral instrument like PCR and DNA sequencing machines. And just like those instruments, the Sherlock will enable even greater returns in new discoveries that improve human health.
Q: Could you provide potential investors with a brief introduction to your company?
A: I founded Asymmetrex in Boston in 2013, after a 22-year career as a principal investigator leading cancer cell research and tissue stem cell research programs at the Fox Chase Cancer Center, MIT, and Boston Biomedical Research Institute. Our differential tissue stem cell counting technology, called Kinetic Stem Cell (KSC) counting, was developed within the company, but is based on foundational discoveries by my research teams, starting at Fox Chase and continuing at MIT and BBRI with the support of an NIH Director’s Pioneer Award. The technology was developed in partnership with the company’s current principal software engineer and architect. Our executive team is rounded out with experienced business members who have track records in leading laboratory tools start-up companies to successful exits for investors. KSC counting is patented in both the US and UK, and patents are pending for the Sherlock instrument.
Q: What makes your company the best choice for investors?
A: Several remarkable qualities.
Outstanding team: In addition to our executive team, Asymmetrex is joined by exceptional cell culture and engineering partners, who worked with us to design, build, and validate prototype alpha-instruments on-time and in-budget.
Readiness for investment: We have accrued significant customer discovery and marketing intel that guide our go-to-market plan; and we have already secured experienced partners for manufacturing and distribution.
Superior science: Solving the long-standing tissue stem cell counting problem in stem cell science and medicine is a superior scientific achievement. It is compelling evidence of the scientific excellence of our R&D effort.
Transformational human impact: Asymmetrex is transforming stem cell science and medicine in two ways. The direct impact is improving the quality of stem cell science and the effectiveness of stem cell medicine, which will inspire transformational advances in cancer care for adults and kids. But there is also an immense, wider, indirect impact by revolutionizing cell culture practice that is the air that cell science and medical research breathe for superior research and development.
Q: What can we expect from you in next 6 months? What are your plans?
A: After we obtain the investment we need, in the following 6 months we will have 10 or more Sherlock beta-instruments ready for delivery and evaluation by 8 confirmed beta-test sites. Once beta-refinement is complete, we will rapidly build 200 Sherlocks for sale to waiting users; and after that, we will work to place one or more Sherlock instruments into the hands of every one of the 60,000+ prospective customers we have identified – transforming cell culture practice and stem cell science and medicine.
Q: What is the best thing about your company that people might not know about?
A: There is no one best thing about our company. Instead, there are many best things about us compared to other companies. We count stem cells; and no other company can do that. We contribute service towards the advancement of our scientific discipline and cell therapy industry. Asymmetrex led the ASTM drafting of the first industry standard for measuring the proliferation rate of mammalian cells, which is a unique capability of the Sherlock; and right now, with our ASTM colleagues, we are leading the drafting of the first industry standard for differential tissue stem cell counting. These standards position Asymmetrex to become a must-have laboratory instrument. Finally, we have been very fortunate to have partners who are as excited about achieving our vision as we are. Now, we just need to find investors who can also get excited by this remarkable Asymmetrex future, which can include them, too.
