Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
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
Mass Spec Technology Drives Innovation Across the Biopharma Workflow
With greater resolving power, analytical speed, and accuracy, new mass spectrometry technology and techniques are infiltrating the biopharmaceuticals workflow.
One Step Closer to Precision Medicine for Chronic Lung Disease Sufferers
A study led by University of North Carolina at Chapel Hill, and National Jewish Health, has provided evidence of links between SNPs and known COPD blood protein biomarkers.
A Diversity of Genomes
New DNA from understudied groups reveals modern genetic variation, ancient population shifts.
“Sixth Sense” May Be More Than Just A Feeling
The NIH Study shows that two young patients with a mutation in the PIEZ02 have problems with touch and proprioception, or body awareness.
Gene Could Reduce Female Mosquitoes
Virginia Tech researchers have found a gene that can reduce female mosquitoes over many generations.
Biomolecular Manufacturing ‘On-the-Go’
Wyss Institute team unveils a low-cost, portable method to manufacture biomolecules for a wide range of vaccines, other therapies as well as diagnostics.
Improving Crop Efficiency with CRISPR
New study of CRISPR-Cas9 technology from Virginia Tech shows potential to improve crop efficiency.
Fighting Cancer with Sticky Nanoparticles
Treatment that uses bioadhesive nanoparticles drug carriers proved more effective than conventional treatments for certain cancers.
Stem Cell ‘Heart Patch’ Almost Perfected
Scientists aiming to perfect and test 3D "heart patches" in animal model, last hurdle before human patients.
Fighting Plant Pathogens with RNA
Researchers develop strategy that could lead to environmentally friendly fungicide to fight pathogens.
Scroll Up
Scroll Down
Skyscraper Banner

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!