Cell Biosciences announced that it’s just brought in $10 million in a third round of funding to launch its new protein analysis technology used to track cellular pathways. It plans to sell its products to labs and research institutions that are developing medications and chemical diagnostics for cancer, diabetes and other diseases.

The Palo Alto, Calif. company has scheduled the launch for its new technology at the end of this month. A previous version of the product has been on the market since 2007, but this update is said to be cheaper to make, more compact and faster to use.

The recent round of financing was led by Wellcome Trust and included Domain Associates, Latterell Venture Partners, Mitsui Ventures, Novo A/S, Royal Bank of Canada and Vertical Group. Cell has now raised $50.5 million to date.

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