US-based drug developer Just Biotherapeutics raised a $15m series A round today featuring pharmaceutical firms Merck and Eli Lilly, which participated through corporate venturing unit Lilly Asia Ventures.
Arch Venture Partners also took part in the round. Concurrently, Just and Merck have entered a collaboration agreement as part of the deal to develop technologies that will lower manufacturing costs of biological products.
Just will also work with Lilly Asia Ventures and Arch to expand into Asia, beginning with China.
Incorporated last year, Just develops treatments from the molecular design stage all the way through designing efficient manufacturing plants.