US-based biomanufacturing technique developer AbSci yesterday completed a $10.4m series D round co-led by chemical and life science conglomerate JSR Life Sciences and its drug developer unit KBI Biopharma.
The round, which includes $5m of debt, was backed by WRF Capital, the venture capital arm of tech transfer organisation Washington Research Foundation, together with Phoenix Venture Partners, Oregon Venture Fund and Columbia Ventures Corporation.
Founded in 2011, AbSci supplies technology that enables biopharmaceutical clients to produce proteins such as biological cells as part of the manufacturing process for new drugs.
The company is currently working on a new platform branded Protein Printing that offers synthetic biology assays to help clients refine and expand production through AbSci’s existing protein expression system.
Dubbed SoluPro, the protein expression technology relies on an engineered chassis modelled on the bacteria E.coli to output complex proteins such as enzymes, hormones and peptides.
The series D cash will go to enhancing AbSci’s equipment and headcount in line with projected commercial demand for its technology.
KBI Biopharma now has exclusive global marketing rights for Protein Printing and has become AbSci’s preferred manufacturing partner in conjunction with its investment.
Glass manufacturer AGC Asahi Glass led a $12m series C round for AbSci in 2018, investing together with WRF Capital, Phoenix, Oregon Venture Fund, Souther, Columbia Ventures and GreenBridge.
AbSci closed a series B round of undisclosed size featuring Phoenix and unnamed new and existing backers in 2017, after a $5.1m Phoenix-led series A the previous year.