In addition to building out existing and additional manufacturing facilities, the funding will be used to augment drug discovery and cell line offerings
Global CDMO Abzena has announced a $65m round of investment, with funding sources including majority-owner Welsh, Carson, Anderson & Stowe (WCAS), Biospring Partners, and other affiliated investors.
This latest investment will allow the company to address growing demand by increasing the capacity of its manufacturing capabilities for both clinical and commercial supply. In addition to building out existing and additional manufacturing facilities, the funding will be used to augment drug discovery and cell line offerings, add fill finish capabilities and complete a biological testing laboratory.
The company is opening a GMP manufacturing facility in Sanford, North Carolina during Q4 this year, its sixth site in a global network providing integrated biologic solutions. The capacity expansion is driven by an increase in customer demand for clinical and commercial scale 2000 L single use bioreactors across a wide range of therapeutic areas, the company says.
“At Abzena, we put patients at the center of all that we do. This new capital will allow us to develop and manufacture a greater number of novel treatments for more patients. I am delighted to see Abzena grow to become the most innovative and flexible company providing these integrated solutions," said Jonathan Goldman MD, CEO of Abzena. “We're grateful for the support from WCAS and Biospring Partners and their recognition of the urgent need for therapeutic innovation.”
“We are proud of the tremendous growth of Abzena and believe that this investment will enable the Company to continue its path of growth and innovation. We are excited to partner with the Abzena team and our friends at Biospring for this investment, for the benefit of our leading biopharma customers and, ultimately, patients,” said Nick O'Leary, General Partner at WCAS.