Corporate Banner
Satellite Banner
Environmental Analysis
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Rapid Micro Biosystems Secures $32.6 Million in Series B Financing

Published: Thursday, June 27, 2013
Last Updated: Thursday, June 27, 2013
Bookmark and Share
Longitude Capital and TPG Biotech lead investment with participation from existing investors.

Rapid Micro Biosystems 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.”


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,500+ scientific posters on ePosters
  • More than 5,000+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
Antibiotic Resistant Bacteria In America's Water System
Antibiotic resistant bacteria live inside drinking water distribution systems blamed for rising healthcare costs.
Washing Clothes Releases Microplastic Particles
Research suggests that over 700,000 microfibres could be released in waste water with every run of a domestic washing machine.
Atmosphere Acidity Minimised to Preindustrial Levels
Sheet ice study shows acidic pollution of the atmosphere has now almost returned to preindustrial levels.
Detecting Hazardous Substances in Water
Scientists develop device for the rapid analysis for hazardous substance content in liquids.
Water Dynamics Affect Coral Reefs
Understanding what aids or degrades these ecosystems can help focus conservation efforts on reefs that are most likely to survive global warming.
Environmental Impact of GM Crops
Following the adoption of GM crops, insecticide usage decreases but herbicide use increases, study shows.
Impact of Emerging Contaminants in Our Water Supply
Emerging contaminants, any synthetic or naturally occurring chemical not commonly monitored in the environment, in our water supply are becoming of increasing concern due to their potential ecological and/or human health effects.
Study Finds Mercury Contamination Across Western N. America
BRI research results found widespread mercury contamination at various levels across Western North America.
Device Improves Measurement of Water Pollution
Researchers have developed a device that makes it easier to measure contaminant levels in water.
Changing Ocean Chemistry Due To Human Activity
More anthropogenic carbon in the northeast Pacific means weaker shells for many marine species.
Scroll Up
Scroll Down
SELECTBIO

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
5,000+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!