Just Biotherapeutics Secures $14 Million Series A2 Funding To Build Laboratory, Pilot Plant And GMP Capabilities
Bill & Melinda Gates Foundation, Merck, Lilly Asia Ventures, ARCH Venture Partners back company’s mission to expand access to biotherapeutics
SEATTLE--(BUSINESS WIRE)--Just Biotherapeutics, Inc., an organization dedicated to expanding global access to important protein therapeutics, today announced the closing of a $14M Series A2 financing round. The Bill & Melinda Gates Foundation led the financing with an $8M investment followed by $2M each from existing investors Merck, Lilly Asia Ventures and ARCH Venture Partners. The proceeds will support the completion of new lab space, pilot plant and GMP capabilities that will enable Just to accelerate the development of lower-cost biologics.
“With this infusion of capital we will complete the buildout of our integrated lab infrastructure and add critical pilot plant and GMP manufacturing capabilities to Just.”
“We are grateful for this significant investment from the foundation, and for the loyal support of our Series A investors,” said Jim Thomas, CEO and co-founder of Just. “With this infusion of capital we will complete the buildout of our integrated lab infrastructure and add critical pilot plant and GMP manufacturing capabilities to Just.”
Previously, Just was awarded grant funding from the foundation (up to $24M, over 4 years) to develop novel technologies to lower the commercial cost of monoclonal antibodies (“mAbs”) in low-income markets and to develop sequence optimized broadly neutralizing anti-HIV antibodies for low-cost manufacture and improved stability. The foundation’s equity investment will enable its partners to test new low-cost products that may have a significant impact on fighting infectious diseases that disproportionately affect the world’s poorest people.
The initial Series A investment of $15M by Merck, known as MSD outside of the United States and Canada, LAV and ARCH was to advance development of a novel technology platform for biologic medicines.
Founded in 2014, Just is led by an experienced team in the fields of protein, process and manufacturing sciences. The Just team came together to solve the scientific and technical hurdles that impact cost and restrict access to life-changing protein therapeutics for much of the world. Just will focus on innovative design solutions that range from the design of better therapeutic molecules to the design of more efficient manufacturing plants. This broad and integrated design focus will create value not only for the developing world, but for the developed world as well.
For more information, please visit justbiotherapeutics.com.
Just Biotherapeutics, Inc.