Vancouver, WA – August 14, 2017
AbSci, a global leader in breakthrough biomanufacturing technologies, announced that it closed its Series B financing round for an undisclosed amount. The round includes previous investors along with several new investors.
Founder and CEO, Sean McClain stated, “We appreciate the continued confidence of our investors, which has enabled us to scale the company to keep up with partnership developments. This financing will support the continued growth and maturity of our insulin program and increase our capabilities to express full-length antibodies at ultra-high titers.”
“PVP is committed to supporting this exceptional team,” said Dr. Zach Jonasson, Managing Partner of Phoenix Venture Partners. “This financing will help accelerate the commercialization of AbSci’s SoluPro™ biopharmaceutical manufacturing platform, which offers pharmaceutical companies revolutionary COGS savings, capacity gains, and increased R&D throughput,” he added.
AbSci continues to optimize custom biomanufacturing and drug discovery processes in partnership with a growing number of biopharmaceutical companies. To support these ongoing strategic relationships, AbSci has staffed up in all departments, and this financing enables the company to further expand its upstream and downstream capabilities.
AbSci is a global leader in biomanufacturing technologies. The company’s SoluPro™ expression platform achieves ultra-high yields of soluble and active protein products and enables ultra-high efficiency purification processes. AbSci’s unique approach accelerates drug discovery timelines, increases manufacturing efficiencies, and drastically reduces costs for the biopharmaceutical industry. For more information, please visit www.abscibio.com.
About Phoenix Venture Partners
Phoenix Venture Partners (PVP) is a leading venture capital firm focused on industrial advanced materials and device innovations. PVP invests in and partners with entrepreneurs to commercialize technologies transforming the pharmaceutical, healthcare, and other major industries. PVP’s team has a track record of founding, building and investing in successful start-ups and assists portfolio companies with customer and supply chain partnerships, business development, and strategic and operational support. PVP is based in Silicon Valley with satellite offices in Seattle and Cambridge. For more information, please visit www.phoenix-vp.com.