Bedford,
MA – June 26, 2013 – Rapid Micro Biosystems, a leading provider of automated,
non-destructive, rapid microbial detection for quality control testing within
the pharmaceutical and personal care products market segments, today announced
that it has raised $32.6 million in series B financing. The funding will be
used to expand the commercial and manufacturing operations in support of the
Growth DirectTM System and the companion applications including: environmental
monitoring, sterility and bioburden testing. Providing faster results from
quality control testing allows drugs to be produced and released more quickly,
economically and safely.
Longitude
Capital and TPG Biotech led this financing round with continued participation from
Kleiner Perkins Caufield & Byers, TVM Capital and Quaker Partners. Dr. Mark
Braganza, Principal at TPG Biotech and Dr. David Hirsch, Managing Director at
Longitude Capital will be joining the Rapid Micro Biosystems’ board of
directors.
“We
are excited to be part of a company that offers such a compelling value
proposition—both in automation and testing speed—to pharmaceutical, biotech and
personal care product companies,” said Dr. Braganza. “The Growth DirectTM
system offers an innovative approach to microbial detection and enumeration,
allowing quality control microbiologists to focus on higher value activities,”
said Dr. Hirsch. “We are pleased to play a role in their expansion.”
The
Growth DirectTM is the only system on the market where all the
applications can be run both concurrently and automatically on a single
instrument. The system provides results starting within just hours; sending
problem alerts so that decision-making and remedial action can start
immediately. Leveraging an already proven detection technology, the Growth
DirectTM delivers exceptional enhancements to productivity, faster
response time and reduction in errors.
“These
unique capabilities provide an attractive return on investment for our
customers and getting drugs to market faster ultimately benefits patients,”
said Steve Delity, President and CEO. “Our new investment partners, along with
our current investors, position Rapid Micro Biosystems to meet the customer
requirements for automated microbial detection and
enumeration.”
About
Rapid Micro Biosystems: Rapid Micro Biosystems delivers the Growth Direct™
System, an automated, non-destructive, rapid detection and enumeration
technology based on the compendial method for microbial quality control in
pharmaceutical manufacturing.
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Posted by Tim Sandle
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