Puridify Completes Series A Funding
Puridify Limited has announced the closing of a £2.2 million Series A funding round. This follow-on investment by existing investors Imperial Innovations, SR One and UCL Business, brings the total raised including grant funding to £8 million, and is a strong expression of confidence in the company and the progress of its proprietary nanofibre purification platform, FibroSelect.
FibroSelect purification technology will create a step-change in manufacturing productivity, whilst its single-use design will further support reduction of validation time and cost. The Series A funding will enable Puridify to accelerate the commercialization of this novel nanofibre-based purification technology with the aim of having GMP compatible purification units ready for wider industry use during 2016.
“We are delighted that our investors and Innovate UK are continuing to support us as we look to further expand our team and focus on generating industry relevant end-user data for FibroSelect, while rapidly establishing a manufacturing basis for GMP-compliant products,” commented Dr Oliver Hardick, Chief Executive Officer of Puridify. “Our single-use purification units will enable this technology to effectively service the wider Life Sciences industry. Specifically, collaborations with biotherapeutic drug manufacturers are already proving the benefit of FibroSelect as a single-use high productivity product capture platform, suitable for existing and emergent biologic therapies.”
Dr Inga Deakin, Associate, Healthcare Ventures, Imperial Innovations said: “Puridify is well on the way to demonstrating the potential for its nanofibre technology to make a significant impact in biologics manufacturing. The FibroSelect purification platform is ideally suited to support the industry’s increasing interest in single use and demand for smaller, more flexible manufacturing facilities that can produce multiple products.”
Matthew Foy, Partner, SR One, said: “Puridify's purification technology is progressing well through its key technical milestones and, in the process, building a strong case for its nanofibre technology to improve productivity for biologics manufacturers worldwide. We look forward to supporting Puridify as it continues on its path towards commercialization.”