On February 6, 2020 Intabio, a developer of instrumentation systems for biotherapeutic precision analysis and quality assessment throughout bioproduction, reported a Series B investment of $18 million (Press release, Intabio, FEB 6, 2020, View Source [SID1234553976]). The financing round was led by Northpond Ventures, with additional funds coming from Genoa Ventures and Vertical Venture Partners. In a testament to Intabio’s steady progress, the step-up valuation financing round was fully subscribed by existing investors. The funds will be used to build Intabio’s commercial team and prepare for launch of its Blaze platform.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
"We believe Intabio is in a strong position to accelerate biotherapeutic development by enabling expanded quality monitoring throughout the drug development process," said Michael P. Rubin, M.D., Ph.D., Northpond’s Founder and CEO. "The Intabio team achieved an impressive string of milestones during 2019 and we remain enthusiastic about the company’s future as they progress toward commercialization of their first products."
Intabio’s Blaze platform performs a comprehensive analysis of biopharmaceutical product quality with blazing speed, offering 100-fold higher throughput over traditional methods. Testing of beta systems by major Biopharma groups is scheduled to begin in the second quarter of 2020, with full commercial introduction slate for late 2020.
"We are grateful to receive such steady, enthusiastic support from our investors," said Intabio’s CEO and co-founder, Lena Wu, Ph.D. "We built a strong foundation for our company in 2019, including the issuance of three patents, publication of a seminal paper, launch of our Technical Evaluation Service, and presentation of the first Blaze study by a Biopharma customer. This infusion of capital will fuel the commercial launch of the Blaze system which is eagerly anticipated by customers."