Rapid Micro Biosystems Locks In $25 Million
LOWELL, Mass., April 29, 2015 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, a leading provider of automated, non-destructive, rapid microbial detection for quality control testing within the pharmaceutical, personal care products and medical device market segments, today announced that it has raised $25 million in Series C equity financing. The financing will be used to expand global commercial and manufacturing operations in support of the industry leading Growth DirectTM System across the applications of environmental monitoring, sterility and bioburden testing.
The round included financing from new investors, Hepalink USA Inc. and Richard K. Mellon and Sons, along with continued participation from Kleiner Perkins Caufield & Byers, Longitude Capital, Quaker Partners, TPG Biotech, and TVM Capital.
“We are eager to be part of an innovative company like Rapid Micro Biosystems that can offer a tangible return on investment through process automation and rapid detection to a vast array of microbial quality control laboratories across industries,” said Shawn Lu, Director & CFO at Hepalink USA Inc.
“Rapid Micro Biosystems’ innovative technology is well positioned to meet the customer requirements for automated microbial detection and enumeration,” said Fred Cohen M.D., D.Phil., Partner and Managing Director, TPG Biotech. “We are pleased to continue to play a role in the Company’s growth.”
The Growth DirectTM System is the only system on the market where all the quality control 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 begin immediately. Leveraging an already proven detection technology, the Growth DirectTM System delivers exceptional enhancements to productivity, faster response time and reduction in errors.
“Since the commercial launch of the next generation Growth Direct™ System last year, we have seen tremendous positive response from the world’s leading pharmaceutical, personal care and medical device companies,” said Robert Spignesi, President and CEO. “This additional investment will fuel our strategic expansion plans.”
About Rapid Micro Biosystems:
Rapid Micro Biosystems delivers the Growth Direct™ System, an automated, non-destructive rapid detection and enumeration technology based on the compendial method for microbial quality control in pharmaceutical manufacturing. The system automates and accelerates detection and enumeration in the areas of sterility testing, environmental monitoring, and bioburden testing, eliminating manual steps and analysis. The detection technology, first developed and patented by Dr. Don Straus, Ph.D., uses the natural auto-fluorescence of microbes and requires no reagents. For more information about Rapid Micro Biosystems visit www.rapidmicrobio.com.
Hepalink is one of the largest suppliers of heparin sodium API and crude heparin in the world, distributing its products to the global market and to internationally renowned pharmaceutical companies. Hepalink was established in 1998 and was listed on the Shenzhen Stock Exchange on May 6, 2010. Hepalink’s headquarters are located in the Shenzhen High-Tech Park. More information is available at www.hepalink.com/en.
About Richard K. Mellon and Sons
Richard K. Mellon and Sons serves as the single-family office for the Mellon family of Pittsburgh.
About Kleiner Perkins Caufield and Byers:
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 500 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm’s portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions. The firm has offices in Menlo Park, California; Beijing, China; and Shanghai, China. www.kpcb.com
About Longitude Capital:
Longitude Capital is a private equity investment firm that focuses on venture growth investments in drug development and medical technology. The firm builds balanced portfolios of mid-stage to commercial-stage companies with clinically de-risked assets that are likely to achieve key value-creating milestones within three-to-five years. Founded in 2006, Longitude Capital operates bi-coastally with offices in Menlo Park, CA and Greenwich, CT. Longitude Capital has over $700 million in assets under management, and most recently raised $385 million for its second fund, Longitude Venture Partners II, L.P., in 2012. www.longitudecapital.com
About Quaker Partners:
Quaker Partners is an East Coast-focused healthcare investment firm. The funds they manage pursue a venture capital and growth strategy, leading equity investments in healthcare companies at all stages of development. Quaker’s industry expertise includes pharmaceuticals, biotechnology, healthcare services, and medical technologies such as devices, tools and human diagnostics. Since its founding in 2002, Quaker has invested in dozens of innovative, high impact healthcare companies. Quaker manages over $700 million in committed capital, and is currently investing its second fund. www.quakerpartners.com
About TPG Biotech:
TPG Biotech is part of the growth equity and venture investment platform of TPG, the global private investment firm. With more than $1.3 billion under management, TPG Biotech targets investments in pharmaceutical discovery and development, medical technology, diagnostics, healthcare and pharmaceutical services, life sciences, as well as industrial applications of biotechnology. www.tpgbiotech.com
About TVM Capital Life Science:
TVM Capital Life Science is providing venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries with more than 25-years of transatlantic investment track record and in excess of US$1.1bn under management. The Life Science Investment Group’s mission is to invest in the development of exciting early stage drug candidates and companies in the medical field that are or aspire to be innovative leaders in their market segment. Since 1984, TVM Capital Life Science has made 116 investments in life science companies in Europe and the United States and exited from 85 companies, including 41 initial public offerings on the NASDAQ, and the London, Frankfurt, Zurich and Vienna Stock Exchanges, and 25 trade sales and mergers. The Life Science team combines long-standing international investment and company building experience with their track record of dedicated board work, extensive global networks in the world of life science research and product development and a direct knowledge of the local markets. TVM Capital Life Science currently invests from its 7th fund generation, TVM Life Science Ventures VII, with an integrated team of investment professionals based in Montreal and Munich. www.tvm-capital.com
- Health Care Industry
- Venture Capital
- Richard K. Mellon
- Kleiner Perkins Caufield & Byers
- medical technology
Rapid Micro Biosystems