Bay State's Abpro Will Hire Using Funding from Chinese Biotech
A 9-year-old Woburn maker of proteins for research and diagnostic tests has gotten a $3.5 million equity investment from a Chinese biotech under a partnership to develop drugs for cancer and eye disease.
Abpro, which uses synthetic biology to speed up the manufacture of biomolecules for big pharma firms including Eli Lilly (NYSE: LLY) and Sanofi Genzyme (NYSE: SNY), announced the partnership with Essex Bio this morning. The company said that in addition to the $3.5 million from Essex, it’s also getting an undisclosed amount from other companies under the agreement.
Abpro, which uses synthetic biology to speed up the manufacture of biomolecules for big pharma firms including Eli Lilly (NYSE: LLY) and Sanofi Genzyme (NYSE: SNY), announced the partnership with Essex Bio this morning. The company said that in addition to the $3.5 million from Essex, it’s also getting an undisclosed amount from other companies under the agreement.